ALBUQUERQUE, N.M. — New Mexico drivers are seeing some relief at the gas pump as fuel prices continue to trend downward across the state.
According to AAA New Mexico, the statewide average price for a gallon of regular unleaded gasoline is now $4.00, down 18 cents from last week. Despite the decline, drivers are still paying about $1.13 more per gallon than they were at this time last year.
Among New Mexico’s major metropolitan areas, Farmington has the highest average gas price at $4.31 per gallon, while Albuquerque has the lowest average at $3.88 per gallon.
Nationally, the average price for regular unleaded gasoline stands at $4.10 per gallon, a decrease of 12 cents from the previous week.
AAA attributes the recent decline in fuel prices to falling crude oil costs. Oil prices have retreated into the upper $80 to lower $90 per barrel range, helping reduce pressure on gasoline prices.
“Lower crude oil prices are helping ease pressure at the pump, providing some welcome relief for drivers,” said Daniel Armbruster, spokesperson for AAA New Mexico.
While prices have moved lower in recent weeks, AAA says fluctuations remain possible as travel demand increases ahead of the Thanksgiving holiday.
New Mexico Metro Gas Prices
- Farmington: $4.31 per gallon
- Albuquerque: $3.88 per gallon
Statewide and National Averages
- New Mexico: $4.00 per gallon
- United States: $4.10 per gallon
AAA says lower crude oil prices could continue providing some relief to motorists in the coming weeks, though market conditions and holiday travel demand may influence future prices.
