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Gas prices in Loveland and Fort Collins averaged $3.22, a sharp decline from last week’s $3.31.
“It’s something that has a tendency to happen this time of year,´ said Patrick DeHaan, senior petroleum analyst for GasBuddy.com. “A lot of the reason for it is the drop in gasoline demand in the cooler months.”
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He explained that supply increases as demand drops due to fewer car trips, leading to lower prices.
Similar to Fort Collins and Loveland, Greeley gas prices saw a decrease of 10 cents per gallon to $3.25.
Gas prices statewide, which declined 8 cents to $3.28 since last week, were slightly higher than in Northern Colorado. However, Colorado gas prices were lower than the nationwide average of $3.34, down from $3.39 last week.