ALBUQUERQUE, NM--(Marketwire - 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
Contact Information: Contacts:
Dan Ronan
Ronan.dan@aaa-texas.com
danronan@sprint.blackberry.net
469 221 8217 office
469 583 7070 cell
Sonta Henderson
Henderson.sonta@aaa-texas.com
512 444 4757 ext. 224
512 899 8046