Gas prices in Colorado jumped 8 cents a gallon in the past week, thanks in large part to repairs at BP’s oil refinery in Whiting, Ind.
Still, gas prices are lower than this time last year, analysts say.
“Despite recently rising prices, motorists continuer to enjoy significant yearly savings with today’s average discounted 81 cents per gallon versus this same date last year and the lowest same-week price in Colorado in five years,” said AAA Spokesman Wave Dreher in a news release.
The $2.86 price compares to $3.65 in the same period of 2011, $3.52 in 2012, $3.55 in 2013 and $3.67 last year.
Initial reports indicate repairs could take as long as a month, the release said. However, the price of crude oil will move lower in the immediate future, due to global oversupply.