AAA-New Mexico: State Gasoline Prices Continue Downward Trend

ALBUQUERQUE, NM–(EMWNews – August 22, 2008) – Gasoline prices in New Mexico continue to

fall, dropping nearly another nickel and in particular, drivers in Las

Cruces saw the cost of gasoline tumble by 13 cents per gallon. Albuquerque

and Santa Fe saw much smaller declines of four and three cents,

respectively.

New Mexico drivers are now paying $3.75 a gallon, that’s six cents higher

than the national average of $3.69. Prices in New Mexico have fallen

statewide between 30 and 35 cents in 5 weeks, since reaching a peak of

$4.08 on July 17th. Still, the price of a gallon of gasoline is 85 cents

more today than it was one year ago.

Las Cruces now has the least expensive gas at $3.59 a gallon, 15 cents

below the statewide average and 10 cents below the national average. Santa

Fe, which has had the most expensive gas in the state this summer,

continues to do so, now motorists are paying $3.75 a gallon.

“While crude oil prices this week have been flat or trading slightly

upwards on world markets, the price of oil is still substantially below the

all-time high of $147 a barrel reached on July 17th and that decline is

still being reflected at the gasoline pump. That means consumers have seen

prices drop by more than 10 percent in New Mexico and nationally as well,”

says AAA-New Mexico Corporate Communications Manager Dan Ronan.

“In New Mexico, the three largest metropolitan areas are seeing gas prices

fall steadily; however, in the more rural areas of the state, prices remain

noticeably higher than the national and statewide average. It’s Economics

101 and the rule of the marketplace, because there are more gas stations in

the cities, they have to be more competitive. Drivers have more choices. In

rural areas, where there are fewer stations, there’s less competition and

owners can sell gas for a higher price even when prices fall,” Ronan added.

               08/22/   08/15/  Differ-   08/22/  Differ-

                2008     2008    ence      2008    ence      Date     Price

               -----    -----   ------    -----    -----     ----     -----

     National  3.692    3.771   -0.079    2.780   +0.912  07/17/2008  4.114

   New Mexico  3.747    3.793   -0.046    2.897   +0.850  07/17/2008  4.078

        Texas  3.532    3.626   -0.094    2.693   +0.839  07/17/2008  3.985

  Albuquerque  3.635    3.674   -0.039    2.813   +0.822  07/17/2008  3.987

   Las Cruces  3.595    3.724   -0.129    2.831   +0.764  07/15/2008  4.012

Santa Fe Area  3.752    3.785   -0.033    2.972   +0.780  07/07/2008  4.044

    Flagstaff  3.933    4.048   -0.115    2.822   +1.111  07/14/2008  4.250

       Tucson  3.536    3.605   -0.069    2.617   +0.919  06/20/2008  3.847

       Denver  3.753    3.797   -0.044    2.796   +0.957  07/17/2008  4.006

      Durango  3.932    3.964   -0.032    3.049   +0.883  07/18/2008  4.221

    Las Vegas  3.750    3.824   -0.074    2.745   +1.005  06/21/2008  4.279

     Amarillo  3.591    3.638   -0.047    2.896   +0.695  07/16/2008  3.983

      El Paso  3.652    3.731   -0.079    2.779   +0.873  07/17/2008  3.967