Gas Prices Drop, But Not In Colorado

DENVER (CBS4) - Gas prices have started dropping in much of the country, but not in Colorado.

Colorado is getting closer and closer to $4 a gallon. Industry experts say in Colorado's case, it's supply and demand.

"This is ridiculous. I'm getting ready to fill up my tank and it hasn't stopped yet; it's at $50," a driver told CBS4 on Monday.

There were predictions that the price of gas would start going down. Not so this week in Colorado. On Monday AAA reported that U.S. gasoline prices fell by 5 cents to an average $3.95 for a gallon of regular. But in Colorado the price jumped 5 cents from a week ago to $3.77.

"Regionally prices on gasoline are affected by supply, and supply is very tight on gasoline right now," Troy Hill with Troy Hill Petroleum said.

It gets more complicated. One of three primary gasoline suppliers to Colorado, Frontier Oil Refinery in Cheyenne, Wyo., is undergoing what's called "turnaround" -- a scheduled maintenance and repair shutdown.

"One of them going down will create a shortage within a week," Hill said.

Hill says the other refineries raise prices to protect their inventory and that gets passed on at the pump.

The most expensive gas in Colorado is in Vail at $4.08 a gallon.

Every weekday on the CBS4 Morning News we help you fill your tank for less. Tune in at 5:20 a.m. and 6:20 a.m. for the lowest priced gas stations in the metro area.