AAA New Mexico: Decreases at pump expected as summer driving season ends

Gas prices are expected to decrease the summer driving season ends.

AAA analysts expect prices at the gas pump to decline as demand decreases with the end of the summer driving season, refineries switch to less expensive winter-blend fuel and the hurricane season comes to a close in November.

?We?re hopeful relief is on the way soon,? AAA Texas/New Mexico Representative Doug Shupe said.

Drivers in New Mexico are paying an average of $3.61 for a gallon of gas, which is up two cents from last week, according to the AAA New Mexico Weekend Gas Watch.

Of the major metro areas surveyed, motorists in Albuquerque and Santa Fe are paying the most at $3.58 and drivers in Las Cruces are paying the least at $3.51. The national average is $3.82.

National gas prices increased last week as the Gulf Coast braced for Hurricane Isaac. Refineries with more than one million barrels per day of production capacity had announced closures in preparation for the storm and wholesale gas prices in regions supplied by these facilities surged higher. But those prices weakened once the market determined the storm would have a limited impact on long-term production.

More information is online.

Average gas prices:

• National $3.82
• New Mexico $3.61
• Albuquerque $3.58
• Las Cruces $3.51
• Santa Fe $3.58
• Texas $3.66
• Colorado $3.58
• Nevada $3.80
• Arizona $3.70

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