ALBUQUERQUE, N.M. — New Mexico drivers are seeing a sharp increase in gasoline prices as global energy markets continue to respond to the conflict involving Iran and concerns about oil supplies.
According to AAA, the statewide average price for a gallon of regular unleaded gasoline reached $4.44 per gallon on Sept. 15, up from about $4.07 a week earlier. The increase comes as crude oil prices have surged, pushing fuel costs higher across the country.
Prices vary across New Mexico’s major metro areas.
- Albuquerque: $4.49 per gallon
- Santa Fe: $4.51 per gallon
- Las Cruces: $4.35 per gallon
- Farmington: $4.92 per gallon
Farmington currently has some of the highest average gas prices in the state.
AAA New Mexico says gas prices have risen even though they would typically begin falling this time of year as summer travel demand decreases. Analysts attribute the increase to rising crude oil prices and uncertainty surrounding global oil supplies.
The latest data shows New Mexico’s average gas price remains slightly higher than the national average of $4.33 per gallon.
Experts say future prices will likely depend on developments in global oil markets and whether tensions affecting energy supplies continue in the weeks ahead.
