Denver gas prices are on the rise, climbing steadily after reaching a six-year low in January.
The average price for regular gas this week in Denver is $2.37 a gallon, according to a survey by the U.S. Energy Information Administration. That’s up 6 cents from last week and a rise of 51 cents since late January.
Analysts said the higher pump prices stem from a recent increase in crude oil prices and refineries producing less gas as they switch to summertime formulations.
“The supply is relatively tight in this market right now,” said Stan Dempsey, president of the Colorado Petroleum Association. “Crude prices have been going up in the past month, and that’s going to have an impact.”
Despite the 27 percent increase in gas prices since January, Denver is the second-cheapest city in the EIA’s 10-city survey, bested only by Houston with an average of $2.24. The national average for regular is $2.57.
GasBuddy.com reported earlier this week that all but three U.S. states have higher gas prices than a month ago.
Steve Raabe: 303-954-1948, sraabe@denverpost.com or twitter.com/steveraabedp
