Gasoline prices continued to edge lower this week across Colorado and the nation, offering motorists some relief as summer travel season gets underway. However, local drivers in Estes Park are still paying significantly more than the state and national averages.
According to AAA, the national average price for a gallon of regular gasoline fell to $4.19, down 18 cents from a week ago and marking the second consecutive weekly decline. Colorado’s statewide average stood at $4.20 per gallon.
Analysts attribute the recent drop in fuel prices to lower crude oil costs, which have remained below $100 per barrel. While that has eased pressure at the pump, uncertainty surrounding shipping traffic through the Strait of Hormuz continues to cloud the outlook for energy markets. Any prolonged disruption could affect global oil supplies and limit further declines in gasoline prices as summer demand increases.
In Estes Park, prices remained well above state and national averages. The lowest price reported this week was $4.58 9/10 per gallon at the Conoco station on Moraine Avenue, unchanged from the previous week. The highest price was $4.94 9/10 per gallon at Shell Gas and Car Wash on North St. Vrain Avenue.
Regular gasoline was selling for $4.89 9/10 per gallon at Safeway and Loaf N’Jug on Big Thompson Avenue, as well as at Sinclair on Moraine Avenue. Loaf N’Jug members could save an additional 10 cents per gallon through the company’s rewards program, and Safeway shoppers can also use points to reduce the price they pay.
Despite the recent declines, fuel prices remain above $4 per gallon nationwide, and market observers say motorists should not expect dramatic decreases in the coming weeks as summer travel demand continues to build.
The Estes Valley Voice will continue to monitor gas prices locally and along the Front Range throughout the summer season.