Colorado Gas Prices Fall 33 Cents to $3.79 Per Gallon

Steamboat Springs —Colorado’s average gasoline price dropped 33.3 cents per gallon this week, landing at $3.79 a gallon.

That is the steepest weekly decline in months. According to GasBuddy’s survey of 2,158 stations across the state, prices are now 40.4 cents lower than they were a month ago. The U.S. average followed suit, falling 15.9 cents to $3.96 per gallon. For the first time since early August, that national figure has dipped below $4.

The drop is not uniform across every pump in the valley, though. The cheapest station in Colorado recorded a price of $2.87 per gallon yesterday, while the most expensive charged $5.89. That is a spread of $3.02 per gallon, a gap that can make the difference between a manageable commute and a financial strain for drivers in different parts of the state.

Patrick De Haan, head of petroleum analysis at GasBuddy, attributed the decline to seasonal factors rather than political events. "Many will assume the election had something to do with it, but that’s a myth," De Haan said. "Gas prices have fallen in the 30 days leading up to the election every year since 2006 except 2010, and it’s typically seasonal: refiners finish maintenance and ramp up output just as demand fades with cooler weather."

He noted that increased oil movement through the Strait of Hormuz is also contributing to the relief. De Haan expects prices to remain below $4 in the weeks ahead, driven by these same seasonal forces.

The decline is visible in major Colorado metro areas as well. In Denver, the average price fell 39.7 cents from last week’s $4.04 to $3.65 per gallon. Colorado Springs saw a similar drop, falling 39.5 cents from $4.05 to $3.65. Fort Collins recorded the largest drop among the listed metros, down 38.2 cents from $4.22 to $3.84 per gallon.

Diesel prices are also moving in the right direction for truckers and farmers. The national average price of diesel decreased 9.5 cents compared to a week ago, standing at $6.186 per gallon.

Historical data from GasBuddy shows that current prices are still $1.12 per gallon higher than a year ago, when the Colorado average was $3.05 on November 9, 2024. However, the trajectory is downward. In late 2021, Colorado drivers paid an average of $3.53 per gallon in November, a figure that has since been overtaken by the current $3.79 average despite the recent drop.

The part everyone skips past is that while prices are falling, they have not yet returned to the lows of 2021 or 2023. But the momentum is clear. As De Haan put it, "I’d expect even more attention on bringing prices down."

For now, the seasonal shift is driving the relief at the pump. Drivers in the valley can expect to see lower numbers on their receipts as cooler weather sets in and refinery output stabilizes. The $3.79 average is a fact, but the experience of filling up will vary wildly depending on which station pulls into the driveway.