COLORADO, USA — The average price of a gallon of diesel fuel is the highest ever recorded in Colorado, according to AAA.
A gallon of diesel now costs $5.277 in Colorado as of Tuesday. One year ago, a gallon of diesel cost $3.114 on average in Colorado and one month ago it cost $4.890.
The average price of a gallon of regular unleaded currently sits at $4.032 as of Tuesday, just shy of the all-time high in Colorado of $4.093 on July 17, 2008, according to AAA.
One year ago, the price of unleaded in Colorado was $2.976. Nationally, the price of unleaded is $4.204 as of Tuesday.
"Gasoline prices have continued their rally in the last week with oil prices sustaining higher levels, but the real story has been diesel fuel, which has skyrocketed to its highest level ever seen," said Patrick De Haan, head of petroleum analysis at GasBuddy. "Diesel is now $1 per gallon or more in many areas compared to gasoline."
According to AAA, fear of a global energy supply disruption due to Russia’s invasion of Ukraine outweighs the demand concerns prompted by the impact of COVID-19 on China’s economy. The cost of a barrel of crude continues to remain around $100.
"As long as the supply remains tight, it will be hard for crude oil prices to fall and consumers will in turn face higher prices at the pump," said AAA spokesman Andrew Gross. "It now costs drivers in the U.S. about $23 more to fill up than a year ago."
"The meteoric rise in diesel prices is likely to continue for the first half of the week at least, while gasoline prices could continue to see a slow but steady rise," said De Haan. "For now, the rising cost of diesel will surely be felt in the grocery store, hardware store or on your next flight as jet fuel prices accelerate, leading to a continued rise in inflation likely to ripple across the economy."
> Top stories curated daily just for you! Sign up for the 9NEWSLETTER to get can’t-miss stories, Next and Broncos content, weather and more delivered right to your inbox.
SUGGESTED VIDEOS: Senior Source
MORE WAYS TO GET 9NEWS
Subscribe to our daily 9NEWSLETTER
Download the 9NEWS APP
iTunes: http://on9news.tv/itunes
Google Play: http://on9news.tv/1lWnC5n
HOW TO ADD THE 9NEWS APP TO YOUR STREAMING DEVICE
ROKU: add the channel from the ROKU store or by searching for KUSA.
For both Apple TV and Fire TV, search for "9news" to find the free app to add to your account. Another option for Fire TV is to have the app delivered directly to your Fire TV through Amazon.