On Wednesday, Oct. 26, President Joe Biden tweeted, “Good news: We’re seeing continued progress bringing down prices at the pump as costs decline, now going into a third straight week – and now in every state across the country.”
Gas prices continue to decline despite OPEC+ countries’ Oct. 5 agreement to decrease oil output by 2 million barrels per day. Cutting the supply may not affect prices that much though, as the U.S. Energy Information Administration predicts demand will grow more slowly over the winter and into 2023. China’s zero-COVID policy is one of the major factors limiting global demand as citizens stay on continued lockdown, helping to stem an increase in oil prices abroad and the cost of refilling at home.
In New Mexico, the average price of regular gasoline was $3.61 as of Wednesday afternoon, less than a week ago and less than the national average, but still more than the $3.30 per gallon drivers were paying last year. Data from AAA shows that in Albuquerque the average price of regular gasoline was $3.48 a gallon Wednesday afternoon, about 18 cents less than a week ago, but about 24 cents more than this time last year.
In the far Northeast Heights, Wednesday’s gas prices were as follows at select stations:
- The 7-Eleven/ALON station at 7843 Tramway Blvd. was charging $3.40 a gallon for regular unleaded, a decrease of 30 cents from last week’s $3.70 a gallon. The station was charging $3.82 for mid-grade, $4.22 for premium, and $4.76 for a gallon of diesel, also down since last week. Prices for mid-grade and premium were more than 24 hours old, according to Google Maps.
- The price of regular unleaded at the Circle K/Phillips 66 at 6951 San Antonio Drive dropped 20 cents since last week, now at $3.48 a gallon. Mid-grade was $3.98, premium $4.28, and diesel $4.80 a gallon.
- A gallon of regular unleaded at the Circle K/Phillips 66 gas station at 5501 Alameda Blvd. dropped from $3.65 to $3.60 a gallon since the last week. Mid-grade and premium also dropped five cents, now at $4.10 and $4.40 a gallon, respectively. Diesel stayed the same at $4.96 a gallon.
- The Chevron at 5980 Alameda Blvd. was charging $3.90 for a gallon of regular, the same as last week. Mid-grade also stayed the same at $4.36 a gallon, as did premium, still at $4.77 a gallon. Prices for mid-grade and premium were more than 24 hours old, according to Google Maps.
*Prices are rounded down to the nearest penny using AAA and Google Maps data.