Gas Prices on a Historic Rise
The price of gas in Lubbock has shot through the roof in the past 24 hours. Overnight, the price of gas jumped from $2.98 to $3.11 per gallon, or more, at most stations. This seems to be the trend across the entire state of Texas and the entire country.
The majority of gas stations, if not all by the time you read this, are over the $3 mark across the city. The hike in prices has much to do with the civil unrest in the Middle East. The lack of production in oil has driven the price of barrels to $95. $95 per barrel is the highest price seen in the past two years. There is no foreseeable end to the unrest in the Middle East, and no real timetable on to when the price per barrel will drop.
These are also the highest gas prices across the country since 1999according to USA Today. The highest prices in the country are being reported in California at $3.56 per gallon. This is also the highest prices, on the books, for the month of Febraury.
Lubbock drivers, and drivers in general, should be aware that the prices should continue to rise over the next few months and stretching into summer. We’ll continue to keep you posted on to the price of Gas here in the Hub City. Make sure you check back daily for price updates.