Lowest late-August gas prices since 2020
Media Release, AAA New Mexico
The statewide gas price average in New Mexico is $2.87 for a gallon of regular unleaded fuel, according to the AAA New Mexico Weekend Gas Watch. That price is six cents less when compared to this day last week and 35 cents less per gallon when compared to this day last year. Of the major metropolitan areas surveyed in New Mexico, drivers in Farmington are paying the most on average at $2.91 per gallon while drivers in Santa Fe are paying the least at $2.80 per gallon. The national average price for a gallon of regular unleaded is $3.14, which is two cents less when compared to this day last week and 26 cents less when compared to this day last year.
New Mexico drivers continue to enjoy relief at the pump, with the statewide average for regular unleaded holding at its lowest level for late August since 2020, when prices dipped to $2.03 due to reduced demand during the COVID-19 pandemic. This current stretch of price stability is welcome news for motorists, and barring any major disruptions such as tropical storms in the Gulf Coast, prices could remain lower as the summer driving season winds down — especially if crude oil costs stay subdued.
“Drivers across New Mexico are benefiting from some of the lowest late-summer pump prices we’ve seen in years,” said Daniel Armbruster, spokesperson for AAA New Mexico. “If crude oil prices stay relatively low and supplies remain steady, this welcome relief could continue into the fall.”
Prices up to date at press time using market prices posted at 3:41 a.m. Motorists can find current gas prices along their route with the free and revamped AAA App for iPhone, iPad and Android. The app can also be used to map a route and learn traffic conditions along that route, find discounts, locate parking, book a hotel and request and track AAA roadside assistance. Learn more at www.AAA.com/mobile.
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