Gas prices in New Mexico among lowest in nation

Created: 12/26/2013 5:37 PM
By: Stuart Dyson, KOB Eyewitness News 4

New Mexico drivers are enjoying some of the cheapest gas prices in the nation right now, and it’s a real deal for people passing through on holiday trips.

As usual we can blame it those two guys – Supply and Demand.  Gas supplies are abundant, and demand here is pretty flat, not increasing the way it is in some other parts of the nation.

The national average price for a gallon of regular gas is $3.26. The New Mexico statewide average is $3.04, and in Albuquerque it’s $2.95, although you can find gas as low as $2.78.

It still cost Cloyd Hinkle $54 to fill up his 1965 Thunderbird Thursday morning at L and M Station on San Mateo and Candelaria.  The T-bird has the old 390 cubic inch motor and it gets about 14 miles to the gallon in the city and 16 on the highway.

“I think when that car was new gas was probably, I would guess, if you can believe this – a nickel, ten cents a gallon,” Hinkle speculated while filling his car for $2.93 a gallon. And actually he’s probably too young to remember, but in 1965 a gallon of regular went for about 30 cents!

“I’m from here originally but I’m from San Antonio, Texas now,” Dave Smail said while gassing up Dodge minivan. “I travel quite a bit and I do notice the difference in the gas prices. It’s better pricing, about the same here as San Antonio. Funny thing is, when you go down in the oilfield country south of San Antonio the gas gets more expensive!”

Industry analysts say that for the most part, places that are closer to refineries are getting lower prices these days.  Texas has 36 refineries. New Mexico has three. Some analysts say prices will remain pretty low through 2014, with a little spike early in the year when refineries shut down for seasonal maintenance turnarounds.

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