AAA New Mexico: Weekend Gas Watch

ALBUQUERQUE, NM--(Marketwire - October 31, 2008) - New Mexico retail prices for a gallon of regular unleaded gasoline are reporting prices well below $3.00, and prices are inching closer toward $2.50 a gallon, according to AAA New Mexico Weekend Gas Watch. The current state average is $2.656 a gallon, down more than 19 cents since last week.

The statewide average price for gas is 30 cents less than it was this time last year. Nationally, the average price for a gallon is $2.504, which is more than forty cents less than this time last year, after reaching a peak average of $4.11 on July 17.

The most expensive gas in New Mexico is in the Santa Fe Area where prices are averaging $2.762. The state's cheapest gas is in Albuquerque at $2.459 a gallon.

"This free-fall in prices has picked up the pace in recent weeks. It's difficult to see when and at what level it will stop," said AAA New Mexico spokesperson Sarah Schimmer. "Nationally, Alaska has the most expensive fuel at $3.50 a gallon, and Oklahoma has the least expensive at $2.14."

Those traveling to neighboring states this weekend will see gasoline in Flagstaff for $2.924, down more than 20 cents from last week. Denver is reporting $2.437 a gallon which is down more than 30 cents since last week.

Light, sweet crude oil reaching a record price of $147.27 a barrel on July 11, is currently trading between $64 and $68.

                                Differ-            Differ-
             10/31/08 10/24/08   ence   10/31/07    ence     Date     Price
             -------- -------- -------- -------- -------- ---------- ------
     National   2.504    2.781  - 0.277    2.913  - 0.409 07/17/2008  4.114
   New Mexico   2.656    2.851  - 0.195    2.959  - 0.303 07/17/2008  4.078
        Texas   2.274    2.553  - 0.279    2.799  - 0.525 07/17/2008  3.985
  Albuquerque   2.459    2.666  - 0.207    2.885  - 0.426 07/17/2008  3.987
   Las Cruces   2.710    2.859  - 0.149    2.902  - 0.192 07/15/2008  4.012
Santa Fe Area   2.762    2.951  - 0.189    2.968  - 0.206 07/07/2008  4.044
    Flagstaff   2.924    3.132  - 0.208    2.968  - 0.044 07/14/2008  4.250
       Tucson   2.585    2.823  - 0.238    2.718  - 0.133 06/20/2008  3.847
       Denver   2.437    2.744  - 0.307    2.806  - 0.369 07/17/2008  4.006
      Durango   2.836    3.047  - 0.211    3.007  - 0.171 07/18/2008  4.221
    Las Vegas   2.741    3.013  - 0.272    2.942  - 0.201 06/21/2008  4.279
     Amarillo   2.264    2.515  - 0.251    2.900  - 0.636 07/16/2008  3.983
      El Paso   2.679    2.922  - 0.243    2.815  - 0.136 07/17/2008  3.967

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