Because the temperatures plummeted in Texas final week knocking refineries out of fee, gasoline costs jumped in Colorado and different states.
The common value improve in Colorado was 7 cents, AAA stated Monday. Nationwide, the worth surged a median of 13 cents to $2.63, the best since October 2019.
The common value within the Denver space was $2.47 per gallon Monday, in contrast with $2.41 per week in the past. A month in the past, the common value was $2.28 per gallon and $2.34 a yr in the past presently.
“If you get proper all the way down to it, final week was the equal of a hurricane occasion,” Skyler McKinley, regional director of public affairs for AAA, stated in an announcement.
The winter storm and frigid temperatures that left thousands and thousands of Texans with out energy additionally bumped about 40% of U.S. crude manufacturing offline as a result of refineries have been shut down, in response to AAA. Refinery outages have been reported in Texas, Louisiana, Oklahoma, Arkansas, Tennessee, and Kansas final week.
“Fortunately, a lot of the practically two dozen impacted refiners ought to be capable of restart operations this week, in the event that they haven’t already,” McKinley stated.
Nevertheless, AAA stated that fuel costs might be risky till crude manufacturing returns to regular ranges. Costs will possible stay larger as demand rises amid the continued COVID-19 vaccine rollout. However massive spikes ought to subside till the summer season months.
Common fuel costs in different elements of the state are: Fort Collins-Loveland, $2.44; Greeley, $2.48; Colorado Springs, $2.49; Grand Junction, $2.50; Boulder-Longmont, $2.51; Pueblo, $2.54; Durango, $2.59; Glenwood Springs, $2.70; and Vail, $2.90;