Based on the AAA Daily Fuel Gauge Report, Colorado, at $3.58 per gallon, is at the lowest end of the scale for gas prices across the mainland United States which average from $3.52 to $4.20 per gallon (in California).  Analysts predict that we will again see gas prices reaching the $4 range.

CNN Money.com reports that 4 states have broken the $4 mark, up 24% since the beginning of the year.  The average cost for self-serve regular has increased approximately $1 per gallon since this time last year.

The last time prices were this high was in July of 2008. Prices are rising because of the cost of crude oil at $100 a barrel.

"Based on current oil prices, there is a 33% chance that the national average gas price could hit $4 a gallon in July, said the US Energy Information Administration in its April short-term energy outlook."

This will be tough on consumers who are still trying to dig out of debt from the weak job market and falling home prices.  "It's also alarming because consumer spending is the main driver of economic activity in the United States," said Chris Christopher, senior economist at IHS Global Insight.

Look for alternatives:  Public transportation offers the best relief for the high costs of gasoline.  More than 2 million people use public transit in the Denver and Colorado Springs metropolitan areas.  RideArrangers, a division of DRCOG,  connects people together to share rides and costs.

AAA also offers many tips on how to conserve fuel and lower your costs.

Read more at CNNMoney.com

Posted in Headlines

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