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

Written by:
June 14, 2022

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

Gasoline prices, on average, continued to soar past the $4.50 per gallon mark over the last week and into Monday. Diesel, at $5.55 per gallon, has cooled off by two cents from its record high set on May 18, according to AAA.

Experts note that while crude oil prices are down from the highs seen in March, gasoline is still breaking records on a national and local level. While these prices generally tend to move in sync, the current mismatch is due primarily to refining costs—or the crack spread—being so high.

The crack spread is the difference between the purchase price of crude oil and the selling price of finished products after refining. This added cost is absorbed by consumers. Historically, the refining process added $10.50 to the overall cost per barrel. Today, that crack spread is over $40 per barrel.

Stacker compiled statistics on gas prices in New Mexico using data from AAA. Gas prices are as of June 13. Cheapest gas stations are from GasBuddy. The state gas tax data is from World Population Review. Connecticut and Georgia have temporarily suspended gas taxes to help consumers while the cost of gas has increased.

New Mexico by the numbers
- Gas current price: $4.83
- Week change: +$0.21 (+4.6%)
- Year change: +$1.86 (+62.6%)
- Gas tax: $0.19 per gallon (#45 highest among all states)
- Historical expensive gas price: $4.83 (6/11/22)

- Diesel current price: $5.58
- Week change: +$0.16 (+3.0%)
- Year change: +$2.40 (+75.6%)
- Historical expensive diesel price: $5.58 (6/11/22)

Cheapest gas stations
#1. Phillips 66: $4.24 (808 E Marland St, Hobbs)
#2. Sam's Club: $4.49 (300 Eubank Blvd NE, Albuquerque)
#3. Valero: $4.49 (321 Main St, Clayton)

Metros with most expensive gas in New Mexico
#1. Farmington: $4.98
#2. Santa Fe: $4.88
#3. Albuquerque: $4.85
#4. Las Cruces: $4.82

States with the most expensive gas
#1. California: $6.44
#2. Nevada: $5.66
#3. Alaska: $5.57

States with the least expensive gas
#1. Georgia: $4.48
#2. Mississippi: $4.52
#3. Arkansas: $4.54

States with the highest gas tax per gallon
#1. Pennsylvania: $0.59
#2. California: $0.53
#3. Washington: $0.52

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

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