Some gas station readerboards in Lea County are below the the $4.00 per gallon benchmark. On Wednesday, March 30 Murphy Express in Hobbs offered regular at $3.95 per gallon. Alon’s price was $3.97, as was the cash price in Lovington at Valero (901 West Ave D).
Prices under $4.00 were not found at other stations in Lovington or in Eunice, Jal or Tatum.
High gas prices are hitting both area residents and businesses hard. The bottom line is that the more folks spend on gas, the less remains for food and other commodities and services. This reality is true even when conservation, driving less, is factored into the equation.
According to an article published at WashingtonPost.com, the rise in gas prices is causing people to “reconsider driving” as concerns mount about higher food prices and higher prices for just about everything. “Some drivers are filling extra gas cans in the event that gas prices continue to march upward, while others are topping off a few bucks at a time to lessen the pinch.”
Tax Credit for New Mexicans
New Mexico legislators are concerned about the effects high gas prices are having on state residents. Proactive in her concern is Representative Rebecca Dow (R – District 38). Rep. Dow, who has declared her candidacy in this year’s gubernatorial election, wants to introduce legislation at the legislature’s April 5 special session to provide New Mexicans “tax credit based on vehicle registrations”.
Rep. Dow says in an article posted at SCDailyPress.com that such a tax credit “would offer relief to people who are using vehicles in order to work and produce in the face of skyrocketing energy prices.”
Commenting that everyone needs relief from high gas prices, Rep. Dow said, “My preference would be that the people that are growing our food and extracting our minerals and the small businesses that are hit hard by the prices of the pump will get relief, as we are going to provide for the everyday New Mexican.” Many Lea County residents are the exact people Rep. Dow wants to help.
New Mexicans May Receive A Rebate
Some state legislators, including Governor Michelle Lujan Grisham, have placed relief from high gas prices for all New Mexicans at the top of their “to do” lists during the forthcoming special session of the legislature.
KOAT7 Action News political analyst Brian Sanderoff states, “The Legislature and the governor are considering giving rebates to New Mexicans to offset the high cost of gasoline.” The exact amount of such rebates has not yet been determined, although $350 to individuals and $700 to married households is being considered.
Some legislators favor higher rebates. Others want less money to be given. Controversy is also brewing over whether or not to exclude high income New Mexicans from receiving rebates at all.
Suspending the state gas tax or giving out rebates would both come at significant cost to the public, which is a main concern of objectors to these plans. Gas companies themselves would still be collecting their profit margins, and some feel that price caps or other means which focus on making private enterprise bear all or some of the financial burden would be more appropriate than asking taxpayers to foot the bill.
State Coffers Have Plenty of Money to Help
All lawmakers agree, however, that the Land of Enchantment has plenty of money to provide relief to all state residents. According to Sanderoff, state coffers are bulging with over a billion dollars in surplus. The state’s oil and gas industry is a big reason for the strong financial position, which is a major part of Lea County’s local economy.
Despite the many options available, a rebate seems like the most likely outcome. A check could soon be going out to most, if not all, New Mexicans. Minority Leader Rep. Jim Townsend, (R – District 54), serving neighboring Chaves, Eddy and Otero counties, said, “I would support this, if we’re going to do this, that it would go to every New Mexican.”
Photo by Sippakorn Yamasikorn // Unsplash
