Gasoline prices jump 9 cents a gallon in Colorado, analysts worry we're headed toward $3 a gallon

Posted: 4:51 PM, May 15, 2018
Updated: 2018-05-15 23:19:46Z

DENVER -- Gasoline prices jumped 6 cents a gallon to an average of $2.87 nationwide in part because of the Trump Administration’s decision to reimpose sanctions on Iran, according to AAA.

In Colorado, the average price of a gallon of regular was $2.75 on Monday, up 9 cents from last week and up almost 15 cents from the April average. This puts Colorado on the week’s top 10 list of states with the largest increases, AAA reported. The average jumped 6 cents in Wyoming and Utah, and 5 cents in Montana.

This time last year, a gallon of regular was priced at an average of $2.32 per gallon in Colorado.

According to GasBuddy, average gasoline prices increased in all 50 states last week as the price of a barrel of oil edged close to $71, the highest since 2014, after the news that the U.S. would withdraw from the Iran nuclear deal.