New Mexico gas prices back on the rise

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ALBUQUERQUE, N.M. — Gas prices seemed to be going down at the end of summer – but for the first time in three weeks, AAA said they are back up.

“We’ve seen a lot of volatility going on with the war in Ukraine, you’ve got Russian oil not being purchased by several countries or being banned or sanctioned, or about to be sanctioned – so that’s put a tighter strain on the oil supply across the globe,” Joshua Zuber, AAA New Mexico spokesperson, said. “Locally, in New Mexico and Albuquerque, you’re likely seeing local supply and demand dynamics at play, and ultimately, the retailer sets the price that you pay at the pump.”

The average price of a gallon of unleaded gas in New Mexico matches the current national average at $3.68. According to AAA, that is an $0.11 jump up from last week and $0.56 more per gallon compared to Sept. 22 last year.

“You’re seeing the most expensive gas prices in Farmington, $3.97,” Zuber said. “Least expensive in Las Cruces at $3.54.”

New Mexico gas prices are far from their all-time high, but many consumers wonder whether the current numbers will continue rising, or eventually fall back down.

“The easiest way to look at the oil and gas market is that right now, there’s a lot of uncertainty,” Zuber said.

Zuber added that there are other ways for drivers to save on gas.

“The best way to save money are safe driving practices,” he said, “So you’re following within posted speed limits, avoid hard acceleration, making sure that your vehicle is well maintained. That’s an important component to not only safety, but also fuel economy as well.”

KOB 4 spoke with a couple people at a gas station in downtown Albuquerque. Watch the video below to see what they had to say.

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