- National average gas price hits $2.94, lowest level in four years.
- Price is down 8 cents versus 2024, continuing a steady decline.
- Some Colorado stations now sell gas for as little as $1.69.
The national average price for a gallon of gasoline has dropped to $2.94, marking the lowest figure in four years. This continues a trend we saw earlier this month, when the average dipped below $3 per gallon.
Compared to this time last year, the national average is down eight cents. However, it’s not all good news as diesel is averaging $3.674 per gallon, which is up from $3.513 this time last year.
More: Gas Prices Drop To Levels America Hasn’t Seen Since 2021
As always, pricing varies significantly by state. While Californians are paying around $4.41 per gallon, the average in Oklahoma is just $2.369. That appears to be the cheapest in the country but, even at the state level, there can be a huge spread.
In particular, the average price for a gallon of gas in Colorado is $2.525. However, several local media outlets have found stations selling gas for less than $2 per gallon.
AAA
KOAA found one Exxon station in Colorado Springs with gas for $1.93 per gallon. This wasn’t just a fluke, as two other stations had regular unleaded priced at $1.95 per gallon.
If that wasn’t impressive enough, The Colorado Sun noted some stations were selling gas for $1.69 per gallon. That sounds remarkable, but the paper noted this is largely because of unique circumstances.
As AAA’s Skyler McKinley explained to the publication, Suncor’s refinery in Commerce City gets most of its crude oil piped in from Canada. It’s priced at $47 per barrel, which is significantly cheaper than West Texas Intermediate, which costs $57 a barrel.
On top of cheaper crude, the state has seen an explosion of “mega-fueling convenience stores” such as Buc-ee’s. These superstores reportedly don’t need to make a profit on gasoline as they have countless food and beverage offerings to make up the difference.
