Gas Prices

By: KKTV 11 News
By: KKTV 11 News

If you think the war in Iraq could hurt prices at the pump, analysts say, "Don't worry." The price of crude oil, which was at $37 a barrel, has now dropped to $27---a 30 percent decrease. Wholesale gas prices also are dropping, so energy experts aren't concerned.

British troops operating in Southern Iraq saw the smoke first---Iraqi oil wells on fire. They're fires, believed to have been set by order of Saddam Hussein. But energy experts say this won't increase prices at the pump.

In fact, they say, look for prices to decrease about 15 cents a gallon in the next few weeks.

AAA Colorado says, in Colorado Springs, the current price for a gallon of regular unleaded is $1.65. In Pueblo it's $1.61, and the nationwide average is $1.71.

Our prices are still at least 30 cents higher than last year. But experts believe the war will be short and only slightly disrupt supply. AAA says the oil supply is fine.

Another factor affecting price---warm weather. More folks will be on the road soon---increasing demand. And refineries will begin producing the more expensive, summer-blend gas, which is required by pollution regulations.

Check out our special "Paying Through the Hose" gas price watch on the News page of this website.


KKTV 520 E. Colorado Colorado Springs, CO 80903 Office: (719) 634-2844 Fax: (719) 632-0808 News Fax: (719) 634-3741
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 267516 - kktv.com/a?a=267516