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4/15/2004

Colorado gas prices creep higher, hit $1.78

The Daily Times-Call

The statewide average for regular, self-serve unleaded gasoline climbed slightly higher in Colorado this past week, reaching $1.78 per gallon.

Averages in the Denver metropolitan area actually dropped three-tenths of a cent in the past week, to $1.74.4 cents — the only part of the state where prices didn’t rise.

According to AAA Colorado’s weekly report, the biggest increase was in the Durango area, which saw an increase of 3.4 cents over last week. The highest-priced gas is sold in Vail, where the average is $2.07.7 cents per gallon.

Colorado’s statewide average is up 8.6 cents over last month and 18.7 cents compared with this time last year.

The average price nationally set another record this week — $1.78.3 per gallon. That’s an increase of 6.2 cents per gallon over last month and more than 19 cents over one year ago.

AAA Colorado says the continuing increase — crude oil is still more than $37 per barrel — can be attributed to the combination of recent cutbacks in production by OPEC, increased hostilities in Iraq — which troubles oil markets — and increased demand as the summer driving season nears.