Jun. 13—As of Monday, all-time or near-record-high gasoline prices blanketed New Mexico, neighboring states and the country.
New Mexico and its four metro areas hit record highs Saturday but slipped slightly Monday, while the national average hit another record Monday morning, AAA reported.
Santa Fe recorded an average $4.88 per gallon of regular unleaded Monday, an increase of 22 cents from the previous week, AAA New Mexico reported.
New Mexico is one of 29 states with average gas prices that remain under $5 per gallon, but 21 states have breached $5, and California recorded an average $6.43 per gallon.
Crude oil prices are at a staggering $120 per barrel. Domestic oil stocks are declining, and gasoline demand is surging for the summer driving season, AAA reported.
The average national gas price Monday was $5.01 per gallon, up 15 cents for the week, with New Mexico clocking in at $4.82. That was 21 cents higher than the previous week.
The Albuquerque average was up 23 cents to $4.85, Las Cruces rose 24 cents to $4.82 and Farmington climbed 18 cents to $4.98. The oil patch in the southeast corner of the state hovered around $4.69 per gallon, AAA reported.