Prices at the Pump

Competition keeps prices down, and right now the oil companies don’t have a lot of competition. That’s about to change. As companies invest in we new fuel technologies, from electric, from organic materials, from biomass, drivers finally will see what fuel market competition looks like. So when there’s an oil crisis, and the price of crude goes up, new transportation fuels give consumers more—and cheaper—options. That helps consumers.

Consumers would have the freedom to choose the cleanest, lowest cost fuels for their vehicles. When crude oil prices spiked after Russia invaded Ukraine, drivers in states with a CTFS could save up to $2.60 per gallon by choosing a cleaner fuel instead of gasoline.

For drivers who just want to use cleaner gasoline, studies have shown that programs like the CTFS in other states have had little to no impact (literally pennies) on retail gas prices.

Infrastructure

There’s also a new wave of electric vehicles (EVs) coming our way. But convenient charging is needed to ensure that New Mexicans have the option to drive an EV no matter where they live. The CTFS requires utility companies to invest revenues from the program in electric vehicle charging infrastructure around the state. That’s good for consumers who would prefer EVs knowing that charging stations are available in every part of the state.