How gas prices have changed in New Mexico in the last week

(STACKER) The nationwide common worth for a gallon of normal gasoline was $4.32 on Monday, Might 9—a fraction of a penny lower than the record-high worth of $4.33 set on March 11.

Stacker compiled statistics on fuel costs in New Mexico utilizing information from AAA. Gasoline costs are as of Might 9. State fuel tax information is from World Inhabitants Evaluate. Two states, Connecticut and Georgia, briefly suspended fuel taxes to assist shoppers whereas the price of fuel has elevated.

Rising gasoline prices are pushed primarily by growing crude oil costs as the worldwide power market responds to harsher sanctions proposed in opposition to Russia, a number one producer and exporter of oil.

The European Union’s proposal to ban Russian oil imports inside six months, introduced final week, prompted crude costs to extend to $110 per barrel on Friday. As of Monday, crude hovered at $105 per barrel.

The EU’s 27 member international locations haven’t but reached an settlement on the small print of this embargo, as some international locations closely reliant on Russian oil, akin to Hungary, are pushing for exemptions from the settlement.

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New Mexico by the numbers
– Gasoline present worth: $4.13
– Week change: +$0.03 (+0.6%)
– 12 months change: +$1.23 (+42.2%)
– Gasoline tax: $0.19 per gallon (#45 highest amongst all states)
– Historic costly fuel worth: $4.19 (3/11/22)

– Diesel present worth: $5.40
– Week change: +$0.13 (+2.5%)
– 12 months change: +$2.23 (+70.7%)
– Historic costly diesel worth: $5.41 (5/7/22)

Metros with costliest fuel in New Mexico
#1. Farmington: $4.38
#2. Las Cruces: $4.14
#3. Santa Fe: $4.10
#4. Albuquerque: $4.05

States with the most costly fuel
#1. California: $5.83
#2. Hawaii: $5.28
#3. Nevada: $5.12

States with the least costly fuel
#1. Georgia: $3.84
#2. Missouri: $3.90
#3. Oklahoma: $3.92

States with the very best fuel tax per gallon
#1. Pennsylvania: $0.59
#2. California: $0.53
#3. Washington: $0.52

States with the bottom fuel tax per gallon
#1. Alaska: $0.0895
#2. Hawaii: $0.16
#3. Virginia: $0.162