BREAKING: Vasquez Releases New Report Illustrating How Administration’s War in Iran, Tariffs, and Tax Law are Spiking Energy Prices for New Mexico Families

WASHINGTON, D.C. – On April 16, 2026, U.S. Representative Gabe Vasquez (NM-02) released a new report detailing how much energy prices have spiked since the Administration took control in January 2025. 

“This year, since the Administration started its unauthorized war in Iran, gas prices have already climbed 35%, a full dollar per gallon. Driving around our district just got more expensive and so did your trips to work, the doctor, and to see family,” said Vasquez. “This sharp rise in gas and utility prices was preventable and is unacceptable. I’ve introduced the Energy Bills Relief Act to bring prices down by expanding access to low income energy assistance programs, kickstarting energy projects, and modernizing our energy grid.”

Read the full report HERE.

In addition to the nationwide energy price increases detailed in the report, New Mexico has been one of the states hit hardest by rising energy prices across the country:

• New Mexico gas prices are approaching $4 per gallon as a result of Trump’s war in Iran.
• Annual energy bills went up by an average of $70 per New Mexico family in 2025 compared to 2024.
• New Mexico has consistently ranked among the top states nationally for highest gas price jumps since the war started.

Lowering utility bills for New Mexicans is a core pillar of Rep. Vasquez’s Affordability Agenda, a concrete plan to address the affordability crisis facing hardworking New Mexicans. Rep. Vasquez has:

• Introduced the Energy Bills Relief Act, which takes a multi-pronged approach to bring down prices for hardworking New Mexicans.
• Rolled out bipartisan legislation to cut red tape and reduce energy costs for families, such as the Create Expedited Reviews to Transform American Infrastructure Now (CERTAIN) Act. 
• Led efforts to reduce energy waste through the introduction of his bipartisan Waste Heat to Wattage Act.
• Led the New Mexico delegation in demanding that the Administration immediately fund the Low-Income Home Energy Assistance Program (LIHEAP) as New Mexico families prepared for colder temperatures this winter amidst sharply rising energy costs. 
• Signed on as a proud member of the Lowering Utility Bills Caucus, which launched in January to tackle the affordability crisis in electricity, gas, and water costs. 
• Condemned the administration’s decision to cut $135 million in Department of Energy funding for projects in New Mexico, including $56 million in canceled investment for oil and gas modernization efforts in New Mexico’s second district.

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