DENVER (CBS4) – Right now the average price for a gallon of regular, unleaded gas in the nation is $3.11. In Colorado the average price is $2.93. Many people say they’ve really noticed a jump in fuel prices in the past couple of weeks and it’s affecting how often they fill up and where they plan to go.
Gas prices are almost 40 cents higher than they were a year ago. They’ve been creeping up over the past 8 weeks. Some analysts predict gas prices could reach $4 to $5 a gallon by summer, citing supply and demand, and economic recovery as the reasons.
Tom Kloza is chief analyst of the Oil Price Information Service. He predicts peak prices will be more in the range of $3.50 to $3.75.
With economic conditions still fragile, the steadily creeping prices are already affecting how much some people are putting into their cars and how they’re using that gas once it’s in them.
“It’s a little shocking I guess sometimes when I am filling up I don’t notice; I just said I won’t look. So, I kind of take it. I need gas so I fill up but it is a little high,” a driver told CBS4.
A prediction is also that people will turn toward public transportation, bikes and the sidewalk to get to where they need to go.