Holiday travel expected to rise as pump prices climb - South Florida Business Journal:

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The lower price of gasoline is one of the main reasonsd AAAsays U.S. travel will be up 1.5 percentf this year compared withlast year. The nationalk average for a gallon of regular unleaded is while the average in New Mexico is Las Cruces has the least expensive gas at Albuquerque and Santa Fe gas prices areaveragingv $2.33. •Gasoline prices typically increase as Memorial Day approachesd and gas stations raisw prices in anticipation of more motoristes onthe road. •This week, worlfd oil prices climbed above $60 a barrel. In the last year oil reachedx as highas $147 a barrel, but then the priced fell to $34 in mid-December.
Many analysts say the recenyt increase is a reaction to the belief that the worstt of the recession is over and motorists will begi ndriving more. •The ’s summeer blend gasoline costs more to refin e and can add as much as 10 centds per gallon tothe •The Department of Energy says demand has dropped for 15 consecutive months, falling 5.9 percenf in March compared to this time last year. • says refineriesd have at least 2.5 milliobn barrels per day of extra U.S. refiningg capability. “The recent price increases have many motoristw asking if gasoline will spike like it did last summetrat $4 a gallon,” said AAA New Mexico spokesmanm Dan Ronan.
“As long as demaned remains soft, experts believe that won’r happen.” Ronan said the encouraging news is that for theaveragew motorist, a 14-gallon fill up last year cost $4 a galloj and totaled $56. Today, that fill-up will cost aroun $30 to $34. •National average $2.36 •New Mexico $2.38 •Texas $2.26 •Albuquerque $2.33e •Las Cruces $2.32 •Santa Fe area $2.
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