AAA New Mexico: Weekend Gas Watch

Slight Decrease in Gas Prices for Most Areas

Retail gasoline prices throughout New Mexico have decreased for the second week in a row, according to AAA New Mexico Weekend Gas Watch.

The current state average is $3.543 a gallon for regular unleaded, down more than 6 cents since last week. Nationally, the average price for a gallon is $3.576, which is more than 79 cents from prices this time last year.

"Residents of New Mexico traveling to neighboring states this weekend will see gas for $3.63 in Flagstaff and Denver reports $3.47," says AAA New Mexico spokesman Dan Ronan. "Motorists are paying a wide range for gasoline across the nation. Alaska has the most expensive fuel in the nation at $4.23 a gallon, while Oklahoma has the least expensive at $3.26."

The most expensive gas in New Mexico is in the Las Cruces Area where prices average $3.53. The state's cheapest gas is in Albuquerque at $3.331 a gallon.

"Supplies appear to be sufficient to meet demand, and prices in New Mexico are decreasing. The refineries and pipelines that were closed in Texas as a result of Hurricane Ike are reopened and increasing their capacity to refine and deliver gasoline," said AAA Texas spokesperson Dan Ronan.

Light, sweet crude oil reached a record price of $147.17 a barrel on July 17, and is currently trading between $94 and $97. Gas reached a national peak average of $4.11 on July 17.

                    One Week Ago            One Year Ago       Record High
                                                                 Prices
           10/03/08 09/26/08 Difference 10/03/07 Difference   Date    Price
           -------- -------- ---------- -------- ---------- --------- -----
National      3.576    3.683    - 0.107    2.779    + 0.797 7/17/2008 4.114
New Mexico    3.543    3.609    - 0.066    2.902    + 0.641 7/17/2008 4.078
Texas         3.477    3.582    - 0.105    2.691    + 0.786 7/17/2008 3.985
Albuquerque   3.331    3.418    - 0.087    2.832    + 0.499 7/17/2008 3.987
Las Cruces    3.530    3.563    - 0.033    2.882    + 0.648 7/15/2008 4.012
Santa Fe
 Area         3.484    3.558    - 0.074    2.894    + 0.590  7/7/2008 4.044
Flagstaff     3.632    3.700    - 0.068    2.819    + 0.813 7/14/2008 4.250
Tucson        3.332    3.389    - 0.057    2.642    + 0.690 6/20/2008 3.847
Denver        3.470    3.561    - 0.091    2.769    + 0.701 7/17/2008 4.006
Durango       3.728    3.739    - 0.011    2.979    + 0.749 7/18/2008 4.221
Las Vegas     3.460    3.504    - 0.044    2.757    + 0.703 6/21/2008 4.279
Amarillo      3.279    3.377    - 0.098    2.794    + 0.485 7/16/2008 3.983
El Paso       3.576    3.640    - 0.064    2.832    + 0.744 7/17/2008 3.967