ALBUQUERQUE, NM, Sep 26, 2008 (MARKET WIRE via COMTEX) — Retail prices throughout New Mexico for regular unleaded gasoline have decreased, according to AAA New Mexico Weekend Gas Watch. Nationally, the average price for a gallon is $3.683, which is more than 87 cents than this time last year.
In New Mexico, the statewide average is $3.609 a gallon for unleaded, down a little over 9 cents since last week. The most expensive gas in New Mexico is in the Las Cruces area where prices are $3.563. The state’s cheapest gas is in Albuquerque at $3.418 a gallon. Sales in both Las Cruces and Albuquerque are below the national average by almost 30 cents.
“Motorists are paying a wide range for gasoline across the nation. Alaska and Hawaii have the most expensive fuel in the nation at $4.27 a gallon, while Oklahoma has the least expensive at $3.38,” says AAA New Mexico spokesman Dan Ronan.
New Mexico residents traveling to and from neighboring states can expect to see gasoline prices vary by region. Flagstaff reports prices at $3.700 a gallon. Denver checks in at $3.561.
“After a busy September storm season along the Gulf Coast, the refineries that were shutdown for consecutive storms are coming back online as fast as the oil companies can get them up and running safely,” Ronan said. “The plants along the Gulf Coast are responsible for about 25 percent of the nations’ gasoline supplies. Refining capacity is not yet back to 100 percent, but the oil companies have indicated that there was less damage to the facilities than anticipated.”
Light, sweet crude oil reached a record price of $147.27 a barrel on July 11 and is currently trading in the range between $105 and $107.