By New Mexico Business Weekly

The average price of a gallon of gas in New Mexico has remained at or near the national average for several months, according to the AAA New Mexico Weekend Gas Watch.

Land of Enchantment motorists are paying $2.76 on average, while the least expensive gallon among metro areas is in Las Cruces at $2.69. Santa Fe area drivers are paying the most at $2.71 for a gallon of regular unleaded gasoline.

⿿Gas prices in New Mexico have remained stable over the last week, either showing no change or an increase or decrease of around two cents,⿝ AAA Texas/New Mexico Corporate Communications Manager Dan Ronan said. ⿿Summertime usually brings higher demand, which influences retail prices. Yet for several weeks, the New Mexico average and the national average of self-serve regular gasoline has hovered in the range of $2.70 to $2.80.⿝

Analysts say the market is being driven by oil prices that continue to trade between $73 and $85 a barrel. The high this year was $92 per barrel in mid-April, while the low was $70 a barrel in mid-May.

Pump prices are up about 25 cents per gallon from this time last year, when the average was $2.46. Two years ago, the national average for self-serve soared to more than $4 per gallon. At the time, AAA New Mexico recorded the stateâ¿¿s all-time highest average price at $4.08.

Average gas prices:

  • National $2.72
  • New Mexico $2.76
  • Albuquerque $2.70
  • Las Cruces $2.69
  • Santa Fe area $2.71
  • Texas $2.56
  • Colorado $2.66
  • Nevada $2.95
  • Arizona $2.75

Copyright 2010 American City Business Journals
Copyright 2010