The Eastern New Mexico News - Serving Clovis, Portales and the Surrounding Communities

Gas prices on decline

 

Last updated 7/23/2022 at 12:16pm



Gas prices are finally on their way down. At least for now.

AAA New Mexico reports the statewide average was $4.26 for a gallon of regular unleaded fuel on Thursday – 18 cents less than a week ago, but still $1.17 more than a year ago.

“Gas prices across the state fell as economic slowdown concerns, due to rising interest rates and inflation, outweigh crude oil supply worries as the war in Ukraine continues,” AAA stated in a news release.

“The potential for declining crude oil demand, as it relates to possible reduced economic activity, could lead prices to follow suit. However, crude oil prices remain sensitive to headlines – trading in wild swings somedays, and July is still a leading month for travel demand; therefore, it is unclear how long downward pressure will remain on the price at the pump.”

Drivers in Farmington are paying the most for gas on average at $4.85 per gallon, according to the travel site. Albuquerque pays the least at $4.09. The National average on Thursday was $4.44.

In Curry and Roosevelt counties, the average cost for regular unleaded fuel was $4.47 per gallon on Thursday.

In Texas, the average was $3.96. Both Amarillo and Lubbock drivers saw averages of $3.93.

AAA Tips to save money on fuel:

Here are some simple ways drivers can improve fuel efficiency:

• Slow down and drive the speed limit. Higher speeds result in more aerodynamic drag.

• Avoid “jackrabbit” starts and hard accelerations. These actions greatly increase fuel consumption.

• Use cruise control on the highway to help maintain a constant speed and save fuel. However, never use cruise control on slippery roads because a loss of vehicle control could result.

• Minimize your use of air conditioning.

• Avoid extended idling to warm up the engine, even in colder temperatures. It’s unnecessary and wastes fuel.

• Maintain your car according to the manufacturer’s recommendations. Regular service will ensure optimum fuel economy.

• Make sure your tires are properly maintained and inflated to the correct level.

• When driving in town, adjust your speed to “time” the traffic lights. This reduces repeated braking and acceleration that consume additional fuel.

• When approaching a red light or stop sign, take your foot off the gas early and allow your car to coast down to a slower speed until it is time to brake.

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