AAA New Mexico: Gas prices move up before holidays

The statewide gas price average in New Mexico is $2.96 for a gallon of regular unleaded fuel, according to the AAA New Mexico Weekend Gas Watch.

That price is seven cents more than last week and eight cents more 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 $3.63 per gallon while drivers in the Santa Fe area are paying the least at $2.82 per gallon.

According to GasBuddy, most gas stations in Rio Rancho charge between $2.87 and $2.89 for a gallon of gas. The Valero on Unser is at $2.54.

The national average price for a gallon of regular unleaded is $3.12, which is two cents more than last week and a penny more than last year.

Wholesale gas prices surge

Earlier this week, wholesale gasoline prices jumped by 20-25 cents, signaling a possible end to the price decreases that have been happening in New Mexico and much of the U.S. in the last few months, according to Oil Price Information Service.

Holiday travel fuels fill-ups at the pump

“New Mexico residents will be among the 8.5 million Mountain State residents traveling for the year-end holidays, which is the third-highest number of travelers from the region since AAA began tracking holiday travel in 2000,” said AAA New Mexico spokesperson Doug Shupe. “Those hitting the road should use a free online tool like the AAA Mobile app to find the least expensive gas stations along their route.”