SOURCE: AAA Texas

 

ALBUQUERQUE, NM--(Marketwire - August 29, 2008) - Gas prices in New Mexico dropped slightly last week and the state's average price for a gallon of gasoline is now $3.74 a gallon. Gasoline in New Mexico is seven cents higher than the national average of $3.67. Nationally, prices fell another two cents last week. The cost of oil began its downward trend on July 17th and gasoline prices have dropped every day since then.

This week Albuquerque has the least expensive gas at $3.63, but the one week decrease was very small, less than a penny from last Friday. Gasoline also fell by some two-and-a-half cents in Santa Fe, however gasoline increased by more than a nickel in Las Cruces from a low of $3.59 up to nearly $3.65 today.

Labor Day weekend traditionally marks the end of the summer driving/vacation season. In fact, AAA is predicting nationally, 34.4 millions are expected to travel, a drop of .9% from last year's holiday.

"Many people in New Mexico and nationally as well, still plan to travel over the holiday, but high gas prices and a slower economy means more of them are taking trips closer to home. Even as oil prices on world markets have moved up and down this week in anticipation of 'Gustav,' the cost of gasoline is dropping. The storm is a wildcard and AAA is watching where it might make land and how it could impact drivers," says AAA Texas spokesman Dan Ronan.

           08/29/08 08/22/08 Difference 08/29/08 Difference   Date    Price
           -------- -------- ---------- -------- ---------- --------- -----
   National   3.669    3.692    - 0.023    2.769    + 0.900 7/17/2008 4.114
 New Mexico   3.739    3.747    - 0.008    2.904    + 0.835 7/17/2008 4.078
      Texas   3.492    3.532    - 0.040    2.664    + 0.828 7/17/2008 3.985
Albuquerque   3.628    3.635    - 0.007    2.790    + 0.838 7/17/2008 3.987
 Las Cruces   3.648    3.595    + 0.053    2.850    + 0.798 7/15/2008 4.012
  Santa Fe
       Area   3.728    3.752    - 0.024    2.936    + 0.792  7/7/2008 4.044
  Flagstaff   3.935    3.933    + 0.002    2.801    + 1.134 7/14/2008 4.250
     Tucson   3.481    3.536    - 0.055    2.581    + 0.900 6/20/2008 3.847
     Denver   3.715    3.753    - 0.038    2.773    + 0.942 7/17/2008 4.006
    Durango   3.938    3.932    + 0.006    3.037    + 0.901 7/18/2008 4.221
  Las Vegas   3.693    3.750    - 0.057    2.723    + 0.970 6/21/2008 4.279
   Amarillo   3.609    3.591    - 0.018    2.915    + 0.694 7/16/2008 3.983
    El Paso   3.601    3.652    - 0.051    2.805    + 0.796 7/17/2008 3.967