Colorado drivers paid a premium for gasoline in early 2023 following the closure of the Suncor Refinery, but 2024 is welcoming them with some substantial discounts, including a handful of stations selling fuel for under $2 a gallon.
A gallon of regular unleaded gasoline in metro Denver averaged $2.55 a gallon on Wednesday, while the statewide average was $2.69 a gallon and the U.S. average was $3.08, according to the AAA.
Gas Buddy, a website that relies on consumers to report the latest prices, listed a half dozen stations in different parts of the metro area with sub-$2 prices as of Wednesday morning.
A Sinclar station at 7590 Pecos St. in unincorporated Adams County had the lowest price at $1.87 a gallon, followed by a Mobil station at 8755 E. Arapahoe Road in Greenwood Village at $1.88 a gallon, according to Gas Buddy.
Another Mobil station at 6515 S. Broadway was a penny more at $1.89 and appeared engaged in a price war with a nearby Exxon station at 6556 S. Broadway, which matched that price.
Besides the Mobil station, a QuickTrip at 7801 E. Arapahoe Road was charging $1.95 a gallon, while a Circle K at 7425 E. Arapahoe was charging $1.98 a gallon.
Those prices represent about a 25% discount from the metro-wide average and are below the discounted prices that typically can be found at the warehouses of Sam’s Club and Costco.
The average price per gallon remains above $3 in Vail, Durango, Glenwood Springs and Grand Junction. Greeley at $2.47 a gallon and Colorado Springs at $2.50 a gallon have the lowest prices of any metro area in the state.
Lower gasoline prices might have some staying power if a forecast released Wednesday from the Energy Information Administration pans out. The EIA expects that Brent crude oil prices will stay close to their 2023 average of $82 a barrel, matching it this year and falling slightly to $79 a barrel in 2025.
“We expect that global supply and demand for petroleum liquids will be relatively balanced over the next two years,” the EIA wrote.
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