KKTV - Economy - Headlines

Gas Prices Dip Slightly After Month Of Rising

By: KKTV
By: KKTV

If you've gone to the gas station to fill up this week, you may feel a bit of relief.

Prices have dipped slightly this week after rising for 27 straight days.

Still, gas prices are significantly higher than they were at this time last year; the national average is $3.71, up 21 cents from this time in 2011.

Though Colorado residents may beg to differ, the state isn't feeling the pinch as severely as most other states. Gas prices in Colorado are second only to Wyoming for the lowest state average, and Colorado cities--Fort Collins, Denver and Colorado Springs--top the list of the top 10 U.S. cities with the lowest prices. The average price in Colorado is $3.28 a gallon, and $3.25 in Colorado Springs.

With eight months to go until the general election, politicians are watching the prices carefully. A continued increase in gas prices could have a negative impact on President Obama's re-election chances, whose poll numbers had been rising over the last several weeks on news that the economy has shown signs of recovery.

The highest ever average price in the U.S. was $4.11, recorded in July 2008.


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