Gas prices hold steady as summer driving season kicks into high gear

The statewide gas price average in New Mexico is $2.95 for a gallon of regular unleaded fuel, according to the AAA New Mexico Weekend Gas Watch. That price is the same from this day last week and $1.08 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 $3.15 per gallon while drivers in Las Cruces are paying the least at $2.83 per gallon. The national average price for a gallon of regular unleaded is $3.04, which is the same when compared to this day last week and $1.06 more than the price per gallon at this same time last year.

The New Mexico gas price average seems to have found balance even after millions of residents from the Mountain Region were expected to travel over the 5-day Memorial Day holiday period. The latest data from the Energy Information Administration is set to be released Thursday afternoon, and many industry analysts expect gasoline demand to remain strong as more Americans receive a COVID-19 vaccine. Earlier this week, OPEC+ agreed to slowly increase production output.

“A revival of summer travel is projected to help keep gasoline demand strong,” said AAA New Mexico spokesperson Daniel Armbruster. “Drivers can save on fuel by keeping tires properly inflated, avoiding hard accelerations and removing any unnecessary items out of their vehicle to lower the weight.”

According to gasprices.aaa.com, New Mexico ranks 27^th 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.