Temperatures have plunged across the nation, with many location experiencing windchills between 40 and 50 degrees below zero.
According to GasBuddy.com senior petroleum analyst Patrick DeHaan, this extreme cold is causing some glitches at oil refineries in some of the hardest-hit regions.
"Those glitches are resulting in partial shutdowns of those refineries, which is having an impact on gasoline production and could in some states result in a slight uptick in prices," said DeHaan.
DeHaan said the area that would be impacted would be those near the Great Lakes and around the Midwest. He said Colorado is unlikely to see an increase in gas prices due to the cold.
"Average prices in Colorado Springs should remain between $3, to as much as $3.30 through January and February," said DeHaan.
Gas prices are about 30 cents higher in Colorado Springs than they were in January 2013, and about 16 cents lower than the national average.