Front Range Gas Prices Drop Well Below National Average
FORT COLLINS, Colo. (CBS4) - Colorado motorists have paid less at the gas pump recently, as prices have fallen 12 cents a gallon on average over the last three weeks.
The average price for regular gasoline is $3.26 in Colorado. Some stations in Denver and in Front Range cities like Fort Collins dipped to $3.12, well below the national average.
Experts say a few factors, especially decreased demand this time of year, contributed to the price drop. More oil production in the United States reduced dependence on foreign oil, further adding to the decrease.
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"Crude oil price have fallen around the world, and when crude oil prices fall, gasoline prices fall pretty quickly after that. So that's good news for the American consumer as well as Coloradans," Stan Dempsey, the president of the Colorado Petroleum Association, said.