• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Colorado Gas Prices Rise a Record 18 Cents a Gallon in One Week

Posted on: Thursday, 18 August 2005, 18:00 CDT

Aug. 18--If Colorado motorists needed an additional reminder of sky- high gasoline prices, it came Wednesday with a report showing the largest weekly price increase in at least five years.

Colorado's average price rose 18 cents a gallon over the past week to $2.50 a gallon for self-service regular, according to AAA Colorado.

That marks the biggest jump since the auto club began tracking weekly prices in 2000.

Colorado prices have risen to new record highs every day since Aug. 8.

The gasoline cost increase reflects recent all-time highs in crude-oil prices, although crude fell Wednesday for a fourth consecutive day after a government report showed demand for gasoline dropping in the final weeks of the summer driving season.

Crude-oil futures declined $2.83 to close at $63.25 on the New York Mercantile Exchange. The price reached a record high last week of $67.10.

The U.S. Energy Information Administration, a branch of the Department of Energy, said gasoline prices have risen in part because of reduced supplies stemming from recent refinery outages.

The agency's weekly report said prices are likely to continue rising over the next few weeks but may drop some after Labor Day when demand for gasoline eases.

"But at least for the next few weeks, it appears that consumers will continue to experience pain at the pump when they fill up," the agency said.

-----

To see more of The Denver Post, or to subscribe to the newspaper, go to http://www.denverpost.com.

Copyright (c) 2005, The Denver Post

Distributed by Knight Ridder/Tribune Business News.

For information on republishing this content, contact us at (800) 661-2511 (U.S.), (213) 237-4914 (worldwide), fax (213) 237-6515, or e-mail reprints@krtinfo.com.

Source: The Denver Post

More News in this Category