Contact: Arnold Vigil
(505) 986-4263
Arnold.Vigil@nmlegis.gov
or
Erika Martinez
Erika.Martinez@nmlegis.gov
FOR IMMEDIATE RELEASE
February 19, 2015
Senator Howie Morales Introduces Legislation to Make Sense of Gasoline Prices
Santa Fe, NM – The recent downward fluctuation of oil and gas prices has state lawmakers in a bind for planning next year’s budget, but at least one senator is concerned about the general inconsistency in fuel prices statewide as well as within the state’s largest city. Senator Howie Morales (D-28-Catron, Grant & Socorro) has introduced Senate Memorial 79 (SM79), “NMSU Retail Gas Prices Study,” which requests that such drastic differences in gasoline retail prices be studied by the New Mexico State University College of Business.
According to SM79, during the period February of 2013 through February of 2015, the average retail price for a gallon of regular unleaded gasoline in New Mexico varied between $1.82 per and $3.54. In addition, between February 4 and February 6, 2015, a gallon ranged from $1.70 in Albuquerque to $2.39 in Deming. Furthermore, on February 6, 2015, the retail price of a gallon within the city of Albuquerque ranged from $1.70 to $2.19.
“I think every average New Mexican is like me and is scratching their head to understand what factors determine the price of gasoline,” Sen. Morales said. “As is often the case, it is difficult to get an easy to understand answer from the oil companies as to why there is such a variance in price from one day to the other, from one city the next, and even from one part of Albuquerque to the other.”
If SM79 is passed, NMSU will need to develop a cost-effective and comprehensive means of communicating the results of the study to the residents of New Mexico between April 1 and October 1, 2015. SM79 further states, “It is difficult for consumers to understand the rationale for significant differences in the retail price of gasoline within limited geographical areas.”
“Understanding gas pricing shouldn’t be like understanding rocket science,” adds Sen. Morales. “This study will help make sense of these pricing dynamics and convey it to the rest of us in a more discernible way.”
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