In a moment that would make characters from “Mad Max” green with envy, gas prices are tumbling to lows not seen since the days of COVID-19. Colorado Springs, as of Tuesday, has some of the lowest average prices in Colorado — and the nation. The cheapest gas in the city could be found at an Exxon station located at 506 W. Garden of the Gods Road, according to GasBuddy. Relax, road warrior, you won’t have to fight tooth and nail for every drop because several locations in Colorado Springs are selling gas for less than $2 per gallon. The statewide average is approximately $2.48, far lower than the national average of $2.95 per gallon. Colorado Springs’ average of $2.30 is about 36 cents lower than the same time last year, according to AAA. In the run-up to Thanksgiving weekend, the lowest gas prices were available at warehouse clubs such as Costco and Sam’s Club. Now, however, regular gas stations dominate GasBuddy’s top 10 cheapest fueling options in the city. The good news isn’t confined to the Pikes Peak region, however. Colorado is one of three states with the lowest gas prices, and it is one of three states that recorded the largest weekly price drop, according to the website.   A Valero gas station, next to a new QuikTrip, advertising low gas prices in Colorado Springs on Tuesday, Dec. 9, 2025. (Alex Edwards, The Gazette) “Gas prices continued to decline in most states last week, while some price-cycling states saw temporary spikes to restore margins,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “With the national average falling further, we’re now at multi-year lows heading into Christmas. “Barring any major disruptions, prices are likely to stay relatively low into the new year.” The most common gas prices for motorists nationwide are expected to linger below $3 per gallon, according to GasBuddy. Its median national price of $2.79 is slightly lower than the average observed by AAA. The price drop coincides with a rise in U.S. oil inventories of approximately 0.6 million barrels, bringing the nation’s reserves to about 3% below the seasonal average. Lower gas prices won’t necessarily cause a major change in winter-driving habits, said Skyler McKinley, a AAA regional spokesperson. He doesn’t expect increased driving as a result, but perhaps spending in “ancillary” categories may rise because of lower gas prices. “Year-end holiday traffic will be robust, but likely won’t approach Thanksgiving levels. Thanksgiving is our biggest driving holiday,” he said. One factor keeping gas prices in Colorado low is the local production offered by the Suncor refinery in Denver, McKinley said. “That place mostly refines Canadian crude oil, which is cheaper than the overall average oil price,” McKinley said, highlighting the Western Canadian Select price per barrel of about $46. “And the refined fuel is not exported and sold here in Colorado.” While Colorado gas prices dipped during the pandemic, that was something of a “blip,” McKinley said. “The last time gas prices were sub $2 per gallon was all the way back in April of 2016,” when gas prices fell to $1.96 per gallon, he said. “Things bottomed out at $1.71 per gallon in May of 2020,” though these were artificially low prices largely due to everything being closed, McKinley said. ...read more read less