ALBUQUERQUE, N.M. — New Mexico drivers are paying slightly more at the pump this week, even as gas prices nationwide remain unchanged.
According to the latest AAA New Mexico Weekend Gas Watch, the statewide average price for a gallon of regular unleaded gasoline is now $4.06, up two cents from last week. The average is also $1.16 higher than it was at this time last year.
Among New Mexico’s major metropolitan areas, Farmington has the highest average gas price at $4.36 per gallon, while Las Cruces has the lowest average at $4.04 per gallon.
Nationally, the average price for a gallon of regular unleaded gasoline remains $4.09, unchanged from last week but 95 cents higher than a year ago.
AAA officials say oil prices have remained below $100 per barrel despite ongoing tensions in the Middle East and concerns involving the Strait of Hormuz, one of the world’s key oil shipping routes.
“Oil prices remain under $100 a barrel even as conflict has intensified in the Middle East and the Strait of Hormuz,” said Doug Shupe, AAA Texas/New Mexico corporate communications manager. “It’s difficult to know if New Mexico prices will follow the national trend and begin to hold steady in coming days, given the volatile situation in the Middle East.”
AAA says uncertainty in global energy markets could continue to influence fuel prices in the weeks ahead.
