State gas prices reach lowest levels of 2018
AAA New Mexico said Thursday statewide gasoline prices reached the lowest levels of the year at $2.21 for a gallon of regular unleaded fuel, 6 cents less than the same day last week and 15 cents less than a year earlier.
The average pump price in Santa Fe was even better for motorists: $2.19 a gallon, according to the AAA New Mexico’s Weekend Gas Watch.
The national average was pegged at $2.30.
“Heading into 2019, gasoline demand is expected to dwindle during the month of January, an expected change following the busy holiday travel season,” the association said in a news release. “At the same time, OPEC will begin production cuts on Jan. 1, with hopes that the shift in global supply will push oil prices higher. The effectiveness of the cuts will likely not be known until later in the first quarter.”