Gas Drops Below $3 A Gallon At Many Pumps In Denver
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DENVER (CBS4) – There was a rush of cars at the gas station off Sheridan and West 45th Avenue on Tuesday.
Why? Because gas there was less than $3 a gallon.
GasBuddy.com showed on Tuesday that the national average for a gallon of gas was $3.24 and the Colorado average was $3.03. The Denver average was $2.98.
Some prices were even hovering about $2.75.
“I’m wondering why it’s low like this, just because it is a holiday week, I would have expected it to be a little bit higher,” driver Paul Lozano told CBS4.
Gas prices have fallen steadily for more than three months. AAA attributes the trend to to less expensive winter-blend gasoline, cheaper crude oil prices, increasing gasoline inventories, lower demand and continued economic concerns.
And then there’s the impact of the looming fiscal cliff in Washington. If no deal is reached markets are likely to slump and gas prices could go lower.
If the deal is reached it will likely be seen as positive for the U.S. economy, which could send crude prices and gas prices higher.
“Each way has it’s pros and cons,” driver Mirko Vukovich told CBS4 on Tuesday.
But for now, gas prices are down.
“I personally don’t get paid a ton. And it hits people like me that don’t make as much money (when prices are higher),” said Kevin Hurd. “It’s probably 10 to 15 bucks a person to fill up difference — you know, that’s a full hour’s work.”