Tue. Jul 23rd, 2024

ANTICIPATED GAS PRICES FOR THE WEEKEND

The statewide gas price average in New Mexico is $2.29 for a gallon of regular unleaded fuel, according to the AAA New Mexico Weekend Gas Watch. That price is one cent more from this day last week and five cents less per gallon than on this day last year. The era of the statewide gas price average being cheaper year-over-year is almost finished.

New Mexico drivers have been saving while filling up compared to the average price per gallon last year – as much as $1.03 a gallon less – for 334 days. Crude oil has been trading at higher prices due to optimism about COVID-19 vaccines renewing demand later this year and oil production cuts by members of the Organization for the Petroleum Exporting Countries (OPEC+).

Typically, this time of the year, gas prices trend cheaper,” said AAA New Mexico spokesperson Joshua Zuber. “That is not the case this year as crude oil continues to price at levels not seen since mid-February 2020.”

According to gasprices.aaa.com, New Mexico ranks 13th least expensive in the nation for a gallon of regular unleaded on average.

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