Gas Prices Up In Colorado Ahead Of Memorial Day Weekend

Gas prices are up 3 cents in Colorado as travelers prepare to hit the road for Memorial Day.

With 34 million Americans planning road trips for the holiday, an increase of 53 percent from last year, demand for gas has gone up dramatically. Nearly every state in the U.S. has seen an increase in average gas prices heading into the three-day weekend.

The American Automobile Association predicts gas prices will reach a high not seen since 2014.

Here's a look at how the average price of regular gas has changed over the past month in Colorado, according to AAA:

• Average price a month ago: $2.96
• Average price a week ago: $3.09
• Average price on Friday: $3.11

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More demand this year is likely to drive up prices as the holiday approaches, according to AAA. As demand increases, gas stations will have to adjust delivery schedules in order to keep up. This could also result in some fuel outages in more-popular destinations, AAA predicts.

A recent shutdown of the Colonial Pipeline, which delivers 45 percent of fuel consumed by East and Southeast states, could also affect prices and fuel supply ahead of the holiday, according to AAA.

Destinations vary this Memorial Day, but AAA says the top five destinations this year are Las Vegas, Orlando, Myrtle Beach, Denver and Nashville.

It's likely anyone traveling by car will experience some sticker shock this year. Anyone who traveled last Memorial Day enjoyed some of the lowest gas prices in 2020 years. Heading into that holiday weekend, gas in the United States averaged about $1.87 per gallon.