• Farmington are paying the most on average at $4.98 per gallon
  • National average price for a gallon of regular unleaded is $5.01

 

Albuquerque – The statewide gas price average in New Mexico is $4.82 for a gallon of regular unleaded fuel, according to the AAA New Mexico Weekend Gas Watch.

That is two cents more when compared to this day last week and $1.84 more per gallon than June 16 last year.

Of the major metropolitan areas surveyed in New Mexico, drivers in Farmington pay the most on average at $4.98 per gallon, while drivers in Las Cruces pay the least at $4.81 per gallon. The national average price for a gallon of regular unleaded is $5.01 which is $1.94 more than the price per gallon at this same time last year.

On the Rio Rancho Observer web page, prices were at 4.57 a gallon at Speedway, 3601 Par D’Arco Highway at about noon June 17. (rrobserver.com)

To help ease the pain, the Biden administration is considering gas rebates for U.S. residents.

The pace of pump price increases has slowed this week, but price records were set in many spots over the past few days. Higher gas prices are due to continued strong demand along with continued worries over tighter oil supplies with the war ongoing in Ukraine. Market analysts are watching how gas prices will react to the continued pressure from sky-high inflation and record fuel prices on demand.

“It’s been yet another week with record-setting gas prices around New Mexico as demand remains strong and market uncertainty surrounding global oil supplies continues,” said AAA New Mexico spokesperson Daniel Armbruster.