Colorado drivers are now paying some of the highest gas prices in the continental United States, with averages jumping another 18 cents in just the past week and showing no signs of slowing down.
As of Tuesday morning, the statewide average for regular unleaded has climbed to $3.62 per gallon, according to AAA and GasBuddy data, with many stations in Denver, Colorado Springs, and Grand Junction already pushing $3.79 to $3.99. Some mountain towns have crossed the painful $4 mark.
The spike is now the sharpest seven-day increase Colorado has seen since the 2022 Russia-Ukraine invasion.
Why Prices Are Exploding Right Now
Three major forces hit the market at the same time, creating what analysts call a “perfect storm” for pump prices.
First, the escalating conflict in the Middle East after Iran’s missile attacks on Israel last week sent crude oil screaming past $83 a barrel on Monday, the highest level since November 2022. Colorado imports nearly all its oil and refined gasoline, so global crude spikes hit the state hard and fast.
Second, several major refineries on the Gulf Coast and in the Midwest went offline for unplanned maintenance in late September, cutting national supply just as demand normally rises.
Third, Colorado is now fully switched to the more expensive summer-blend fuel required from April through September, a change that typically adds 10-20 cents per gallon by itself.
“Put all three together and we’re seeing wholesale gasoline costs in Denver jump 70 cents a gallon in less than two weeks,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Retail prices are still catching up. We easily have another 15-30 cents left to climb in the next ten days.”
Where Colorado Ranks Nationally Right Now
Current average gas prices by state (AAA, October 8, 2024):
- California: $4.71
- Hawaii: $4.61
- Washington: $4.19
- Nevada: $4.02
- Oregon: $3.89
- Colorado: $3.62 (6th highest in the nation)
- Alaska: $3.59
- Idaho: $3.52
Just one month ago, Colorado ranked 19th.
Drivers Already Changing Habits
In Denver, long lines formed Monday at Costco and Sam’s Club stations still holding prices under $3.30 for members.
“I’m filling both cars and every gas can I own,” said Aurora resident Maria Gutierrez while topping off her SUV. “If it’s going to $4 anyway, I’d rather pay $3.29 today than $4 next week.”
Ride-share and delivery drivers say the surge is crushing their earnings.
“I made $180 yesterday but spent $48 on gas,” said Uber driver James Thompson in Colorado Springs. “That’s almost 27 percent of my day gone before I even feed my kids.”
How High Could It Actually Go?
Most analysts now warn Colorado could see $3.99 to $4.19 statewide averages by late October if crude oil stays above $85 and refinery issues continue.
The highest price ever recorded in Colorado remains $4.92 in July 2022.
“If we get any real disruption in the Strait of Hormuz, all bets are off,” said AAA’s Skyler McKinley. “We could be looking at $5 gas again. It’s not the most likely scenario, but it’s no longer impossible.”
Ways to Fight Back at the Pump
Drivers still have options to soften the blow:
- Use apps like GasBuddy, Upside, or GetUpside for 20-50 cents off per gallon at specific stations
- Shop on Tuesday or Wednesday mornings, traditionally the cheapest days of the week
- Keep tires properly inflated and ease off aggressive acceleration (can improve mileage 10-15%)
- Combine trips and carpool when possible
- Consider a fuel-efficient side gig vehicle if you drive for work
Colorado’s gas tax remains 22 cents per gallon plus local taxes, one of the lowest in the region, which has kept prices from being even worse compared to California or Nevada.
The pain at the pump is real, and it’s hitting kitchen-table budgets across our state. Families are already making hard choices between gas, groceries, and rent. Many drivers just want to know one thing: when does this end?
Only time and global events will tell. But for now, every tank feels like a small crisis, and every fill-up comes with that familiar sting of watching dollars disappear faster than ever.
What are you doing to cope with these prices? Drop your stories and tips in the comments below, and share this article with #ColoradoGasCrisis if you’re feeling the squeeze too.
