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.”
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.