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.166728.2
HOUSE JOINT MEMORIAL 42
48
TH LEGISLATURE
- STATE OF NEW MEXICO -
FIRST SESSION
, 2007
INTRODUCED BY
Ben Lujan
A JOINT MEMORIAL
REQUESTING THE ATTORNEY GENERAL TO INVESTIGATE THE DISPARITY
BETWEEN THE PRICE OF GASOLINE AND DIESEL FUEL.
WHEREAS, the price and availability of diesel fuel is
important to New Mexico as it is the primary fuel for
semitrucks, delivery vehicles, buses, trains and farm and
construction equipment; and
WHEREAS, the cost of diesel fuel impacts the costs of
other goods and services and, therefore, it impacts New
Mexico's economy; and
WHEREAS, the average cost of diesel fuel in New Mexico has
declined by less than two percent, from two dollars sixty-two
cents ($2.62) per gallon to two dollars fifty-seven cents
($2.57) per gallon, over the last year while the average cost
of regular-grade gasoline has declined nearly twelve percent,
pg_0002
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.166728.2
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from two dollars thirty-seven cents ($2.37) per gallon to two
dollars twelve cents ($2.12) per gallon during the same time;
and
WHEREAS, the per gallon price of diesel continues to be
significantly higher then the price of gasoline despite the
fact that both are products of crude oil; and
WHEREAS, the disparity between the recent decline in
gasoline prices versus diesel prices can be perplexing to the
motoring public and can undermine confidence in the market,
leading many to believe the market is being manipulated; and
WHEREAS, the attorney general in 1999 concluded a six-year
investigation of the gasoline industry that, while unable to
prove illegal price-fixing, did result in an important judicial
precedent confirming the attorney general's ability to
investigate the industry;
NOW, THEREFORE, BE IT RESOLVED BY THE LEGISLATURE OF THE
STATE OF NEW MEXICO that the attorney general be requested to
investigate the disparity between the decline in gasoline
prices and the decline in diesel prices and the disparity
between the absolute prices in the two fuels; and
BE IT FURTHER RESOLVED that the attorney general be
requested to issue a report of the attorney general's findings
to the New Mexico legislature; and
BE IT FURTHER RESOLVED that a copy of this memorial be
transmitted to the attorney general.