Press release: Gas prices in NM increase for fourth week in row

(Irving, Texas) —- After a month of steady increases in gasoline prices during 2011, consumers are seeing some moderation at the pump as oil prices dropped this past week. Oil on Thursday fell below the $86 a barrel range for the first time since mid-November. Just two weeks ago oil was above $92 a barrel and since Monday, oil prices have been falling on the NYMEX market.

According to the AAA New Mexico Weekend Gas Watch, the average price for a gallon of regular unleaded gasoline in New Mexico increased just a penny during the last week from $3.00 to $3.01.

The national average decreased by a penny from $3.11 to $3.10. Gasoline prices in New Mexico are averaging nine cents below the national average.

The least expensive gasoline is in Albuquerque at $2.94 a gallon, up a penny since last week. The most expensive gasoline is in Santa Fe where prices dropped two cents from $3.01 to $2.99.

As has been the case for several weeks, higher gasoline prices in some of

the smaller communities in New Mexico, outside of the major metropolitan areas are pushing the statewide average up slightly.