DENVER (CBS4) – After rising for more than a month, gas prices have now dropped nine days in a row.
AAA predicts that downward trend will continue well into the busy summer travel season, and decrease to $2.00 per gallon this spring and summer.
“There’s a good chance that the average household will save more than $700 on gas this year,” said Michael Green of AAA.
The price of oil has hit a six year low as supply outweighs demand. In addition, a nuclear deal with Iran could increase supply, meaning even lower prices at the pump.
In Colorado, gas costs an average of $2.25 a gallon. One year ago, Coloradans were paying $1.37 more than that, with gas at $3.62 a gallon.