Why Are Colorado Gas Prices Suddenly Going Up?
Colorado motorists have been seeing extremely low gas prices in weeks, but there has been a reversal of direction with a sudden up-shoot in prices and people may be wondering why.
According to bizjournals.com, AAA is reporting an average price for a gallon of regular gas in Colorado at 1.69 today, up over 12 cents from just a week ago. The price of has had been slowly declining since last August when the average price in the state was $2.83.
AAA says there are a couple of reasons for the turnaround. Some refineries are cutting production as a result of abundant supplies, which is a sure way to stop the falling prices.
The agency says changes in gas prices are fairly typical for this time of year as various refineries conduct maintenance prior to the upcoming summer driving season.
It's not expected, however, that gas prices will rise significantly at this time considering the current low price of crude oil and the plentiful supply.