A 16 percent reduction in crude oil prices continues to lessen the statewide average cost for a gallon of unleaded gasoline, AAA of Colorado reported Wednesday.
AAA of Colorado spokesman Lynette Dilbeck said crude oil prices fell to a 20-month low last week. She said warmer weather across the country, higher inventories and decisions by the Organization of the Petroleum Exporting Countries -- supplier of about 40 percent of the world's oil --in recent weeks have cued the price reductions.
"There are so many different variables that go into fuel pricing," Dilbeck said Wednesday, the same day AAA released its weekly fuel report. "Demand, political climate, weather climate ... it all effects what goes on here."
Overall, Colorado has the 26th lowest average regular gasoline price in the country. Motorists are paying, on average, 13 cents less than the same time a year ago, AAA reported.
Still, local motorists aren't able to capitalize on the lower fuel costs.
Most local stations are charging about $2.40 per gallon, a sharp contrast to state and national averages of $2.14 and $2.16, respectively.
Craig's $2.33 per gallon average ranks among the highest fuel prices in the country. Eight states -- Alaska, California, Connecticut, Nevada, New York, Oregon, Hawaii and Washington -- have higher per gallon averages than Craig.
Nine states have average gas prices less than $2 per gallon of unleaded.
Average prices for neighboring states to Colorado include Kansas ($1.97), Nebraska ($2.05), New Mexico ($2.13), Oklahoma ($1.92) and Utah ($2.24).
For the third week in a row, Denver notched the lowest gas prices in the state, $2.07 per gallon, followed by Colorado Springs.