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Local gas prices shoot up nearly 20 cents in past week

By: BILL RADFORD
February 11, 2013
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photo - Average gas prices in the Colorado Springs area remain below the national average. Photo by THE ASSOCIATED PRESS
Average gas prices in the Colorado Springs area remain below the national average. Photo by THE ASSOCIATED PRESS 

Gas prices in Colorado Springs remain below the national average — but they’re catching up.

The average price of a gallon of regular unleaded Monday in the Springs was $3.264, according to AAA’s Daily Fuel Gauge Report. That’s up nearly 20 cents in the past week — and up 46 cents a gallon from the month-ago average of $2.805. It’s also above the year-ago cost of $3.009.

Some area stations Monday were selling gas at nearly $3.50 a gallon, according to GasBuddy.com, which tracks prices across the U.S. and Canada.

The national average Monday was $3.587, up about 7 cents in the past week, according to AAA. The state average was $3.319.

Motorists in the Rockies have been benefiting from, among other things, access to cheaper Canadian crude oil. That oil is still cheaper than benchmark West Texas Intermediate oil, but the gap is closing, said Gregg Laskoski, senior petroleum analyst with GasBuddy.

“If there’s any good news to share, when we look at the refinery operations coast to coast, the ones in the Rockies are outperforming every other region in the country right now,” Laskoski said. That should help keep a lid on regional prices, he said.

GasBuddy’s projection for the year see prices peaking in April. Laskoski said that’s still the forecast; look for prices to continue up, he said, but perhaps not at “the aggressive rate” of recent weeks.

To find the lowest prices in the Springs, go to gazette.com.gaswatch.

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