Copyright 2000 Denver Publishing Company
DENVER
ROCKY MOUNTAIN NEWS
February 16, 2000, Wednesday
SECTION: Business; Ed. Final; Pg. 7B
LENGTH: 284 words
HEADLINE:
GAS PRICES UP DRAMATICALLY
COLORADANS PAYING ABOUT 40% MORE
THAN THIS TIME LAST YEAR
BYLINE: By Jerd Smith, News
Staff Writer
BODY:
Coloradans are paying about 40
percent more - about 38 cents per gallon - for gasoline these days than they
were this time last year because of rising oil prices.
According to AAA Colorado, unleaded self-serve gasoline was going for
about 95 cents a gallon in February 1999. This month, average prices across the
state hit $1.33 per gallon.
AAA spokeswoman Mary Greer
says there is little relief in sight because the world oil glut has evaporated,
demand is squeezing supplies and there are no immediate plans to increase
production.
Crude oil prices topped $30 per barrel
Monday and continued Tuesday, their highest level since the Persian Gulf War
nine years ago.
''We've enjoyed good gas prices for a long time,'' Greer
said. ''But we might get to where we were during the gulf war (when prices
topped $1.35 per gallon in Colorado).''
So far Denver
has managed to avoid some of the higher pump prices posted elsewhere in the
state. This month in the metro area, motorists are paying an average of
$1.28 for unleaded, self-serve gasoline, up from 92 cents a
year ago.
Vail residents are paying some of the highest prices,
according to AAA, with self-serve unleaded going for $1.57 per
gallon this month.
Tuesday, as pump prices continued to rise, oil
producing countries, such as Iran, called for ideas on slowing the rapid price
hikes to prevent disrupting global economies. A series of meetings among oil
producing countries is planned.
Analysts predict that without some
increase in production, oil prices will continue to rise. Crude oil was going
for less than $11 per barrel just a year ago, according to the
American Petroleum Institute.
LOAD-DATE: February 19, 2000
