Business brief

Average gas price in New Mexico rising

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The average gas price in New Mexico was $2.49 last week for a gallon of regular unleaded fuel, according to the AAA New Mexico Weekend Gas Watch. That price is 4 cents more than last week and 39 cents more per gallon than this day last year.

Of the major metropolitan areas surveyed in New Mexico, Las Cruces drivers are paying the most on average at $2.47 per gallon while drivers in Santa Fe are paying the least at $2.44 per gallon. The national average price for a gallon of regular unleaded is $2.56, which is 6 cents more than last week and 36 cents more than the price per gallon on this day last year.

According to the Energy Information Administration, the latest gasoline demand measurement is the highest for the end of October since 2006. As consumers fill up their tanks more frequently, supply levels are tightening, which is causing gas prices to increase.

Colorado saw the biggest increase while Utah saw the largest dip in gas prices.

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