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.
Gasoline prices are finally catching up with the falling price of crude oil, with at least one station in Albuquerque today selling the precious liquid for a mere $1.98 a gallon.
It was just five weeks ago that the Independent reported gas had fallen below $3 for the first time in months. Today the same station, the Phillips 66 at Fourth Street and Griegos Road Northwest, is below $2 — for the first time in more than two years.
The gas-tracking Web site gasbuddy.com reports several Albuquerque stations below the $2 mark, and a citywide average of $2.14.7. That’s a penny below the national average and a dime less than the New Mexico average.
Gasoline prices normally lag behind changes in the cost of crude oi, though it seems like the lag is shorter as prices rise and slower as they fall. That seems to be the case now, judging by how long it’s taken for gas to match the quick decline in oil.
Since July, U.S. crude oil prices have fallen from nearly $135 a barrel to just over $56 on Wednesday, a drop of nearly 60 percent. That’s not yet mirrored at the pump. The national high price in July was $4.24 a gallon, while today’s average is about 49 percent of that.
And there may be room for continued downward movement in oil. The Associated Press reports today that at least one New York analyst says $50 a barrel is possible, and $40 is not out of the question.
