I am writing today to announce the closure of the New Mexico Independent. After three and a half years of operation in New Mexico, the board of the American Independent News Network, has decided to shift publication of its news…
While environmental activists played their part yesterday during demonstrations at the capitol building, going so far as to dress up as solar panels and to sing the tune of “You Are My Sunshine,” their counterparts, the anti-cap-and-trade contingency who has…
Roughly one quarter of University of New Mexico students are unimpressed with the state’s flagship public school, according to a survey that questioned college students about their higher education experiences.
UPDATE: Perhaps the only bright side to the ongoing meltdown on Wall Street and other global financial markets is the steady decline in oil prices. Gas prices have been sliding down toward $3 a gallon, and in Albuquerque on Tuesday at least one gas station set its signs at a level not seen in a year: $2.85.
The Phillips 66 station at Fourth Street and Griegos Road Northwest had cars backed up at the pumps three deep around noon and six deep at 9 p.m. Rudy Candelaria waited in his van for a place at the pump, but said he was hardly cheering the price.
“It’s still too goddamn high,” he said. “The price of oil has dropped 40 percent but the price of gas is only down 25 — we still have 15 percent to go. Impressed I’m not,” he added.
A station employee acknowledged that business was brisk, but said he couldn’t talk about gas prices with the news media. Conoco Phillips spokeswoman Terry Hunt said the sudden drop in Albuquerque was undoubtedly a local marketing decision, but added that gas prices are steered by two factors: crude oil and consumer demand. In both cases, she said, the numbers have been dropping.
“It’s finally some good news,” she said.
Soaring oil prices earlier this year drove gasoline to a record $4.11 a gallon in July, which spurred Americans to drive less and therefore reduce the demand for crude oil. Oil that sold in July for $147 a barrel was trading today at just under $90, The Associated Press reported.
Gasoline prices have followed the same downward trend. The Web site Gasbuddy.com reported today the average price in the United States was $3.42 a gallon, about 2.5 cents less than yesterday. New Mexico drivers today paid an average of $3.19, the site said. A month ago the average price in the state was $3.55 a gallon, while a year ago it was $2.75.
How low could it go? The Los Angeles Times reported today that $60 a barrel oil is possible by the end of the year, which could mean the national average gas price falling below $3 a gallon.
At $2.85 a gallon, the price cut is small consolation to those whose retirement accounts and house prices have fallen off a cliff. But to Jamison Michaela and his wife, who filled up their Pontiac Grand Am, any financial aid is welcome.
“I haven’t seen $2.85 in a couple of months,” Michaela said. “I think it’s a steal. I’ve got a family and these prices are killing me.”
At the peak of the gas prices this summer it cost nearly $50 to fill up the family car, he said. On Tuesday night the pump clicked off at $22.01. He couldn’t stand around and talk, however. Cars were lined up on Griegos Road trying to get into line.
