Gas prices in New Mexico hit another record high

NEW MEXICO (KRQE) – Fuel costs in New Mexico are hitting one other report excessive. In accordance with AAA, the typical worth for a gallon of normal unleaded fuel in New Mexico is $4.51. That’s up 19 cents from Thursday final week and $1.56 extra per gallon than June 2, final 12 months.

AAA says drivers in Farmington are paying essentially the most with a mean of $4.73 per gallon; and drivers in Santa Fe are paying the least with a mean of $4.43 per gallon. They are saying the nationwide common worth per gallon of normal unleaded fuel is $4.71. In accordance with gasprices.aaa.com, on common New Mexico ranks twenty second least costly state for a gallon of normal unleaded fuel.

In accordance with AAA this most up-to-date spike in fuel costs is because of rising crude oil costs because the oil market provides could turn into tighter with with COVID lockdowns easing in China and the European Union ban of most Russian oil merchandise. “The latest enhance is because of an increase in crude oil costs, which accounts for about 50 to 60 % of what we pay on the pump,” AAA New Mexico spokesperson Daniel Armbruster mentioned in a launch.