Gas Prices Expected To Fall and Stay Low

Above, filling up at the Jamestown Flying J. Photo by Armand Vaquer.

Gasoline prices in New Mexico are dropping and are expected to stay low through summer. At least that's what the AAA is saying.

According to the Rio Rancho Observer:

Commuters and vacationers can breathe a sigh of relief at the gas pump knowing gas prices appear to be dropping as the summer travel season kicks in, according to a report from AAA.

“New Mexicans are paying less for gasoline so far this summer when compared to last year,” Daniel Armbruster, AAA New Mexico spokesman, said in a news release. “Supply builds of crude oil and gasoline are helping to keep retail fuel prices in check as many hit the road for summer vacations.”

Although oil supplies are the main catalyst for price drops, there are other reasons pump prices are slowly creeping down.

AAA spokesman Andrew Gross told the Associated Press that demand for gas is declining. “Traditionally — pre-pandemic — after Memorial Day, demand would start to pick up in the summertime. And we just don’t see it anymore.”

The rise in popularity of electric vehicles and other fuel-efficient vehicles is also credited as a reason for declining demand.

The average price for a gallon of regular unleaded gas in New Mexico on Thursday was $3.20, 4 cents less than a week before and 23 cents less than on June 13, 2023, according to AAA. 

To read more, go here. 

NM Gas Prices Dropping Before Thanksgiving

Above, Gallup gasoline price as of January 25, 2020. Photo by Armand Vaquer.

For those traveling within New Mexico over the Thanksgiving holiday, there is some good news when it concerns gasoline prices.

They have been trending down.

Last week gasoline in the Gallup area has been around $3.389/gallon. Usually, gasoline has been a few cents cheaper in Gallup than at the local Flying J. They've been about the same price lately.

According to the Rio Rancho Observer:

The statewide gas price average in New Mexico is $3.48 for a gallon of regular unleaded fuel, according to the AAA New Mexico Weekend Gas Watch.

That price is six cents less when compared to this day last week and 12 cents more per gallon than on this day last year.

Of the major metropolitan areas surveyed in New Mexico, drivers in Farmington are paying the most on average at $3.87 per gallon while drivers in Albuquerque are paying the least at $3.25 per gallon, AAA said. The national average price for a gallon of regular unleaded is $3.72, which is eight cents less compared to this day last week and 31 cents more than the price per gallon at this same time last year.

I am not driving anywhere this Thanksgiving. I will be spending it with friends in the community.

To read more, go here.