Denverites were warned that gas prices could spike soon and over the last week, the city’s price at the pump has skyrocketed.
Average gasoline prices in Denver have risen 43.1 cents in the last seven days, hitting an average of $3.69 per gallon on Monday, according to GasBuddy’s survey of 844 stations in Denver. The 13% rise in prices week over week brings Denver’s average fuel price 99.1 cents per gallon higher than it was in March of 2021.
“There are few words to describe the unprecedented rise in gasoline prices over the last week, with massive spikes coast to coast in both gasoline and diesel prices, as oil prices jump to their highest since 2008,” Patrick De Haan, the head of petroleum analysis at GasBuddy said in a news release. Forget the $4 per gallon mark, the nation will soon set new all-time record highs, and we could push closer to a national average of $4.50 per gallon.”
While Denver’s still cheapest station was priced at $3.31 per gallon at Sam’s Club in Aurora on Sunday, the highest mark in the state is already at $4.99 per gallon.
Meanwhile, the national average price of gasoline has risen 46.5 cents per gallon in the last week, averaging $4.06 per gallon. Monday’s mark is $1.29 per gallon higher than a year ago, according to GasBuddy data.
“California could be heading for $5.50 per gallon with more stations charging $6 and beyond,” De Haan said. “We’ve never been in this situation before, with this level of uncertainty. As we lose a major global producer under the weight of deserving bipartisan sanctions for invading a sovereign country, the cost is high. Americans will be feeling the pain of the rise in prices for quite some time, with little good news foreseen.”
Here’s what gasoline prices have looked like in Denver over the last three years:
- March 7, 2021: $2.70 per gallon
- March 7, 2020: $2.18 per gallon
- March 7, 2019: $2.18 per gallon
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