Fuel prices in Colorado dropped to an average of $1.85 per gallon, as people cut work commutes, vacations and other travel amid the novel coronavirus pandemic.

The average price is 84 cents a gallon cheaper than the same period in 2019, according to an AAA Colorado news release. Across the nation, natural gas prices hit an average of $1.85 per gallon.

“The bottom line is that we’re living through the lowest domestic demand for gasoline since 1968,” AAA Colorado spokesman Skyler McKinley wrote in the news release. “That means cheap gas prices now – and further declines for the foreseeable future.”

Since late February, U.S. demand for gasoline has decreased 44 percent to 5 million barrels per day, with gasoline inventories building across the country, the news release said.

“Until the COVID-19 challenge eases and demand begins to rise, it’s highly likely that the oil market will remain considerably oversupplied and both crude and gasoline prices will remain low,” McKinley said.

The falling prices at the pump come even as oil producers across the globe announced historic global crude oil production cuts. Production will drop about 10 percent, or nearly 10 million barrels per day in May and June. Still, the pandemic will continue to cause volatility in the market, the AAA Colorado news release said.

Here are the average gas prices across the state, as of April 15:

Denver

  • Current average: $1.73
  • Year ago average: $2.61

Boulder-Longmont

  • Current Average: $1.79
  • Year ago average: $2.62

Colorado Springs

  • Current Average: $1.77
  • Year ago average: $2.63

Fort Collins-Loveland

  • Current average: $1.94
  • Year ago average: $2.63

Grand Junction

  • Current average: $1.77
  • Year ago average: $2.76

Durango

  • Current average:  $2.20
  • Year ago average: $2.73

Vail

  • Current average: $1.83
  • Year ago average: $3.01
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