Gas prices jump in Santa Fe, state ahead of July 4


Jun. 24—Gas prices continue to fluctuate, shooting up across New Mexico and in Santa Fe leading up to what is expected to be a busy day of travel on July 4.

AAA New Mexico Weekend Gas Watch said the average price of gas last week in the Santa Fe area was $3.31 per gallon, the second-highest in the state behind Albuquerque’s $3.32 and a 17-cent increase from the previous week.

Statewide, the average price for a gallon of gas was $3.25, a 5-cent increase. Farmington had the lowest average at $3.23, and Las Cruces was averaging $3.29 last week, AAA said.

Daniel Armbruster, a spokesman for AAA, said in a news release that demand has increased while supplies have gone down, leading to higher prices at the pump.

“According to the Energy Information Administration, this week there was a 2.5 million barrel draw in crude stocks and a 2.28 million barrel drop in gasoline holdings,” he said. “Meanwhile, domestic gasoline demand rose by about 350,000 barrels per day to 9.34 barrels per day.”

While prices have increased in New Mexico, the statewide average still comes in lower than the national average, which stood at $3.45. Neighboring Arizona was averaging $3.62 and Colorado $3.26. Texas, meanwhile, was averaging $3.05.

“Summer driving season is well underway with demand for fuel increasing over the last week,” Armbruster said. “Things will likely heat up further as AAA anticipates record travel this coming Independence Day.”

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