The statewide gas price average in New Mexico is $3.48 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 12 cents more per gallon than on this day last year.
Of the major metropolitan areas surveyed in New Mexico, drivers in Farmington are paying the most on average at $3.87 per gallon while drivers in Albuquerque are paying the least at $3.25 per gallon, AAA said. The national average price for a gallon of regular unleaded is $3.72, which is eight cents less compared to this day last week and 31 cents more than the price per gallon at this same time last year.
Gas prices around most of New Mexico have been trending downward ahead of the Thanksgiving holiday next week. The main reason is the global cost for oil, gasoline’s main ingredient, has been stuck in a narrow price range of $85 to $92 a barrel for several weeks.
In Rio Rancho, prices have hit as low as $3.12 a gallon to $3.09 a gallon.
“Drivers are paying essentially the same price at the pump compared to this time last year heading into the busy Thanksgiving travel week,” said AAA New Mexico spokesperson Daniel Armbruster. “However, gas price averages have been dipping lower over the past few days, which may encourage even more people to travel.”
According to gasprices.aaa.com, New Mexico ranks 17th least expensive in the nation for a gallon of regular unleaded on average.
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.