Gas prices have been slowly coming down over the past months in Colorado and across the country, but one stretch of road is seeing prices nearly half the state average.
When a new QuikTrip station opened on Arapahoe Road in Greenwood Village, a gas price war broke out among the stations on the street.
Over the weekend, the price war drove gas under $2 a gallon, and as of Monday morning, the new station was selling regular gas for $1.71 a gallon, almost half Colorado’s statewide average of $3.25, according to reports from GasBuddy.
Prices at other gas stations on the street hovered around $2.30 at 7:30 a.m., still more than a dollar below the average.
In Denver, average gas prices have dropped 44.8 cents over the past month, putting the city average at $3.11, according to GasBuddy survey data. In the last week, prices have dropped 16.3 cents.
For Colorado as a whole, prices are down 11.3 cents from last week and 41.7 cents from last month, according to GasBuddy.
Nationally, prices are trending downward too.
Currently, the national average price of gas sits at $3.32 a gallon, just 7 cents above the Colorado average and a 44 cent drop from last year’s average.
“The decline in gas prices has been astounding, but not completely surprising as we finally get back to a more typical fall, which in recent years has seen impacts from Covid and Russia’s war on Ukraine disrupting seasonal changes,” said Patrick De Haan, head of petroleum analysis at GasBuddy, in a news release.
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At the beginning of November, drivers in 33 states were seeing gas prices at or under $2.99 a gallon, and De Haan said he expected more states to follow.
There’s no word yet on when the Arapahoe Road gas war will end, but experts say it won’t sustain itself for years.