New Mexico residents are bracing for a rise in their gas bills following the New Mexico Public Regulation Commission’s recent approval of a rate increase for New Mexico Gas Co. The decision, part of a settlement agreement, will see the average residential bill—based on usage of 53 therms per month—increase by $4.21, or 7%, starting October 1.
This is less than the gas company’s initial request, which sought a more significant rate hike to cover a $30 million revenue deficiency; the final settlement brought this down by $19 million.
Commissioner Gabriel Aguilera expressed satisfaction with the settlement, stating, “I’m happy here with how the parties were able to reach an agreement.” However, the decision comes amidst broader economic pressures that are already straining household budgets.
New Mexico’s residents are facing increased costs across the board, particularly in essential areas like groceries and gasoline. Gas prices have seen a significant rise, with the cost per gallon for regular unleaded gasoline averaging $3.60 in 2024, reflecting a broader trend of rising energy costs nationwide. This marks a considerable increase from previous years, exacerbating the financial burden on consumers.
Grocery prices have also climbed, with the latest data indicating a 0.2% increase from May to June 2024. Year-over-year, grocery costs have risen by 1.1%, contributing to a broader trend of food inflation that has seen prices increase by 26% since 2020. This situation is particularly challenging for low-income households, who are disproportionately affected by rising costs for everyday necessities.
The cumulative effect of these increases is placing significant stress on New Mexico’s residents, many of whom are already struggling in an inflationary economy under the Joe Biden/Kamala Harris administration. Though lower than initially proposed, the approved gas rate hike adds another layer of financial pressure.
As Public Regulation Commissioner Pat O’Connell noted, while the settlement may work in this instance, the broader economic context necessitates careful consideration of future rate adjustments and their impacts on consumers.
These rising costs underscore the importance of effective regulatory oversight and support measures to help mitigate the economic burden on New Mexicans.
Mandate should be to work from home. We spend $400./month in gasoline to drive to the city to go to work. We are not able to sell our home because of the market. We use the Sam’s Club gasoline since its the lowest price at all times, out weighing the $ 50. annual fee.
Insanity is the name of NM leftist representatives. Selfish and corrupt is another word.
Vote for Trump and Herrell.
Don’t forget Domenici.
Amen there.
Absolutely!
26% ? Id like to point out some dude compared prices of the exact items purchased at wallymart in like 2021 and 2024, originally $126 or something like that in 2021… it was over $410 in 2024.
That is not 26% in 4 years….that a sh*tload more in 3 years.
Voting Democrat or dead peons… welcome to the classless society of the DNC….where everyone will be poor, except the DNC leaders.
I agree.
Make Orwell fiction again!
New Mexicans need to dig deep into there characters and decide if they are socialist, Marxists or conservative. For those that do not know the difference, here is the break down, socialism is where the government does everything for u to include ensure all folks are equally paid regardless how qualified. So the dump lazy person gets what u get, they also let u make decisions off the options they give u. U can own a business but they decide the majority of the rules, Marxist is the same but they own the homes and businesses and I just work, conservatives decide what the government does, votes there rep in, tells their rep what to vote on, allows u to make all the decisions. Right now NM is pushing further and further every year to socialism with a final goal of Marxism. When the US was founded they were conservative. Please decide and start to vote accordingly. My guess u are a conservative.
I hate to say it, but the definition of conservative is not the way the conservatives work things out. Generally, they are, as they say, the other side of the same coin. Your definition is the preferred theory, not the actual practice, unfortunately.
50% of the state is employed by state, city and county government. Their silence is paid and bought. Slaves can only be free when they realize they are slaves.
Now that is worth the two cents. So very true. Gov. employees are sush for the retirement factors… Every time!
Gas prices are the least of our worries. $7 for a 5 oz. bag of potato chips…? That’s getting extreme.
It’s all insane, and that is what happened when you vote in ungodly socialist/communists in office. MLG is so evil and her comrades are the same. Selfish for they own good and to hell with the people of NM. But people need to stop believing the lies and take off their blinders and research what these people have done to NM. And on top of that the Deb Harland, secretary of the interior is a traitor to her own people. If you have watched her giving answers at hearings. She is dumb as a rock. Don’t get me started… Praying for Gods mercy on NM and America.
And here comes Kamala. If anyone has not seen it, watch Idiocracy, the movie. It’s where we are rapidly headed. Haaland, not Harland.
Somebody here called Kamala Que Mala. I stole it.
I’ve been calling her quémala for a long time now. I’ve gotten on different posts and wrote, “Just say no to quémala.” Maybe mine was the one you had seen. If not let’s flood everywhere with that.
I checked my last gas bill and 97% went to fees and taxes. The cost of gas I used was just 57 cents. The “gas efficiency fee” comprised the majority of the bill at $12.40. Now they want to add another fee. Crazy. On the positive side I received a15 cent credit for the weather adjustment. Big whoop.
Gotta pad the pockets of the corrupt on the backs of the working class..