Gas prices down throughout NM

Gas prices in Albuquerque are nearly a dollar cheaper than they were a year ago.

The cost of a gallon of petrol in the Duke City was $2.94 on Thursday, according to AAA New Mexico Weekend Gas Watch. That was 11 cents cheaper than last week and 87 cents cheaper than the same day last year.

Statewide, Santa Fe had the cheapest gas, $2.83 per gallon. Farmington drivers had the most expensive gas in the state at $3.48 per gallon on average.

The statewide average for a gallon of gas was $3.03, which is lower than the national average of $3.22. New Mexico’s average for a gallon of gas was down 76 cents compared to the same week last year.

“New Mexico gas prices continue to move lower as we enter Autumn,” said Daniel Armbruster, AAA Texas spokesperson. “Fuel price averages are expected to remain lower as the switchover to winter-blend gas gets underway. However, there is a possibility that retail fuel prices could fluctuate as the Energy Information Administration’s latest data indicates an increase in demand for fuel and lower supplies regionally.”

North Carolina was the state with the cheapest gas, averaging $2.94 per gallon.

California was the most expensive state for gasoline. Gas was selling for $4.70 per gallon.

Data from the EIA shows that gas demand is increasing and regional Gulf Coast gasoline stocks are falling, which could lead to price fluctuations on the retail level of gasoline.