ALBUQUERQUE, NM--(Marketwire - November 7, 2008) - New Mexico motorists are seeing a steady
drop in the price of gasoline, according to the AAA New Mexico Weekend Gas
Watch. This week it's down another 15 cents at $2.508. Last week the
state average went down 19 cents for a gallon of regular unleaded gasoline.
However the price of gasoline in New Mexico remains 19 cents above the
national average which today is $2.314. That price is more than 74 cents
less than this time last year. The most expensive gas in New Mexico is in
the Las Cruces area where prices are averaging $2.595, down 11 cents since
last week. The state's cheapest gas is in Albuquerque at $2.326 a gallon,
which also fell 11 cents since last week. Santa Fe saw the most dramatic
drop in the price of gas since last week, reporting a price of $2.550 which
is a 21 cent difference.
"Despite being above the national average motorists are paying 57 cents a
gallon less in New Mexico than they were a year ago," said AAA New Mexico
Corporate Communications Manager Dan Ronan.
New Mexico residents traveling to neighboring states this weekend can
expect to see gas in Flagstaff for $2.790 and in Tucson for $2.41 a gallon.
Those traveling to Denver will see gas averaging $2.216, and travelers in
Amarillo this weekend will find gas at $2.142.
With the lower price of gasoline for the upcoming Thanksgiving holiday
travel weekend, AAA National is optimistic the lower price of fuel could
encourage more travel. The annual AAA Thanksgiving holiday travel analysis
will be released the week of November 17.
To explain why the price of gasoline has fallen so dramatically, gasoline
is refined from light, sweet crude oil. That product reached a record
price of $147.27 a barrel on July 17 and is currently trading around $61 to
$65. Also, the federal government recently announced that motorists are
driving less. During the past 10 months Americans drove 78 billion fewer
miles.
11/07/08 10/31/08 Difference 11/07/07 Difference Date Price
-------- -------- ---------- -------- ---------- --------- -----
National 2.314 2.504 - 0.190 3.061 - 0.747 7/17/2008 4.114
New Mexico 2.508 2.656 - 0.148 3.084 - 0.576 7/17/2008 4.078
Texas 2.113 2.274 - 0.161 2.943 - 0.830 7/17/2008 3.985
Albuquerque 2.326 2.459 - 0.113 3.003 - 0.677 7/17/2008 3.987
Las Cruces 2.595 2.710 - 0.115 3.062 - 0.467 7/15/2008 4.012
Santa Fe Area 2.550 2.762 - 0.212 3.121 - 0.571 7/7/2008 4.044
Flagstaff 2.790 2.924 - 0.134 3.063 - 0.273 7/14/2008 4.250
Tucson 2.413 2.585 - 0.172 2.823 - 0.410 6/20/2008 3.847
Denver 2.216 2.437 - 0.221 2.960 - 0.744 7/17/2008 4.006
Durango 2.673 2.836 - 0.163 3.136 - 0.463 7/18/2008 4.221
Las Vegas 2.506 2.741 - 0.235 3.014 - 0.508 6/21/2008 4.279
Amarillo 2.142 2.264 - 0.122 3.034 - 0.892 7/16/2008 3.983
El Paso 2.498 2.679 - 0.181 2.920 - 0.422 7/17/2008 3.967
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Contact Information: Contacts:
Dan Ronan
Statewide/Dallas
Ronan.dan@aaa-texas.com
danronan@sprint.blackberry.net
469-221-8217 office
469-583-7070 cell
Sarah Schimmer
Houston
E-mail: Schimmer.sarah@aaa-texas.com
Phone: 713-284-6552 - office
281-797-7886 - cell