AAA: Gas prices to stay low for the holidays

9NEWS @ 4. 11/21/2016

KUSA - Plenty of Coloradans will be hitting the road this year for the Thanksgiving holiday; more than 791,000 drivers are expected to be on the state's roadways.

If you've filled up your gas tank lately, you may have noticed that gas prices haven't really changed much in well over a year.

"Gas prices in the Rockies have been very stable all year. AAA is projecting that stability will continue through the end of the year," AAA Colorado Spokesperson Wave Dreher said. 

The average price of $2.06 per gallon in Colorado comes within about eight cents of what we paid this time last year.

It’s an unusual situation, experts say, given the heavy demand during the holiday driving season.

"We thought we would've seen some increase just because of the holiday travel period, which usually causes prices to go up, but that's been the opposite so far," Mac Clouse said, a professor at the Daniels College of Business at DU.

Will it last, though? On Monday, the price of crude oil rose nearly 4 percent on the news that OPEC – the group of oil producing nations – could be moving toward imiting production.

"Any time the price of oil goes up, the price of gasoline will go up,” Clouse said. “So, we'll see that going up."

It's not just gas that involves, but other things related to oil as well.

“Any oil product will be impacted by the price of a barrel of oil and not just what we think of -- it's the oil to heat our homes,” Clouse said. “It's the gasoline we put in our cars and it's also all sorts of products that are made with plastics, that come from oil and oil derivatives."

For now, though, the price of gas is expected to remain steady through the holiday season. AAA said that means, for drivers, be ready for a lot of company on the road this week.

"A lot of people sharing the road with you," Dreher said.

The highways will be busy this week, but not that much more than last year. AAA said the number of drivers this year will only increase by 1.5 percent.

Copyright 2016 KUSA


JOIN THE CONVERSATION

To find out more about Facebook commenting please read the
Conversation Guidelines and FAQs

Leave a Comment