ALBUQUERQUE, N.M. — New Mexicans may have trouble finding toilet paper and hand sanitizer but record low and dropping gas prices are everywhere around the state.
AAA New Mexico reported Thursday that the cost of gas has fallen to the lowest level in more than a year.
The statewide average is $2.23 for a gallon of regular unleaded eight cents lower than last week, according to the AAA New Mexico Weekend Gas Watch.
Beyond the average price though, GasBuddy.com notes that unleaded costs $1.68 at the San Felipe Travel Center and $171 at Warrior Fuel 2 in Bernalillo. Multiple stations — Speedways and Valeros — around Albuquerque and in Rio Rancho has gas at $1.79 a gallon.
“New Mexico gas prices are at their cheapest point in more than a year,” AAA New Mexico spokesperson Joshua Zuber said in a statement. “Gas prices usually increase in the spring due to an increase in demand and lower supply, but this year drivers could continue to see lower prices amid concerns over the coronavirus and impacts to global demand.”
AAA said in a news release that the New Mexico statewide average has not been this low since mid-February 2019. AAA cited a lack of agreement between Organization of the Petroleum Exporting Countries and non-OPEC countries — read Russian and Saudi Arabia — to cut production and concerns about the coronavirus have sent crude oil prices plummeting, forcing retail gas prices to new 2020 lows.
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