Ledes from the Land of Enchantment

Statewide gas prices drop ahead of busy Labor Day holiday weekend

ALBUQUERQUE – The statewide gas price average in New Mexico is $3.69 for a gallon of regular unleaded fuel, according to the AAA New Mexico Weekend Gas Watch. That price is 8 cents less when compared to this day last week and 61 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 $4.11 per gallon while drivers in Albuquerque are paying the least at $3.63 per gallon. The national average price for a gallon of regular unleaded is $3.83, which is 5 cents less compared to this day last week and 66 cents more than the price per gallon at this same time last year.

The New Mexico statewide gas price average fell as the price of crude is impacted by competing headlines. Putting downward pressure on the cost of oil and gas are continued concerns for an economic slowdown in the face of inflation and rising interest rates. On the other hand, energy prices remain elevated with the war in Ukraine still ongoing. Market watchers will also have their eyes on the Atlantic and the Gulf with hurricane activity becoming more active recently. Prices at the pump may also fluctuate as the latest travel survey out from AAA New Mexico shows many Americans plan to take a trip to enjoy the last, long weekend of the summer driving season.

“The price of crude oil has been volatile with so many headlines conflicting on which direction the commodity could go,” said AAA New Mexico spokesperson Daniel Armbruster. “Ultimately, for the time being, the market for oil and gas is going to continue to be sensitive to any supply or demand news with the ongoing war in Ukraine.”

According to gasprices.aaa.com, New Mexico ranks 21st among the least expensive in the nation for a gallon of regular unleaded on average.

According to NewMexicoGasPrices.com, the cheapest gas in Las Cruces could be found Thursday at the following locations:

  • Sam’s Club2711 N Telshor Blvd near Commerce Drive ($3.35/gal.)
  • Murphy Express, 3480 Northrise Dr. near Rinconada Boulevard ($3.37/gal.)
  • Walmart Neighborhood Market, 150 N Sonoma Ranch Blvd. & E. Lohman Avenue ($3.37/gal.)
  • Murphy Express, 1290 S. Valley Dr. & Avenida De Mesilla

In New Mexico, gas prices have plummeted steadily over the past few months, according to GasBuddy.com.

Damien Willis is a Lead Reporter for the Las Cruces Sun News. He can be reached at 575-541-5443, [email protected] or @DamienWillis on Twitter.

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