Gas prices spike 20 cents in some areas of Lubbock - KCBD NewsChannel 11 Lubbock

Gas prices spike 20 cents in some areas of Lubbock

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Gas prices have spiked 20 cents overnight in some areas of Lubbock. Some viewers and our station crews at KCBD NewsChannel 11 noticed that at Walmart gas was $3.30 yesterday, but today it has increased to $3.55 .

On Monday, Gasbuddy.com says the average price per gallon for gas in Lubbock was $3.40. Senior Petroleum Analyst, Patrick Dehaan says its not "normal" to see such an increase across the U.S. "We are seeing an increase because the price for oil is going up and often when gas stations have to pay more they pass the cost over to the consumer," Dehaan explained.

Lubbock resident Alan Burrow was in shock when he noticed mid fill up that the price he was paying for gas at United Supermarkets on 50th and Indiana, was almost 20 cents higher than yesterday. "That price is outrageously high," Burrow said.

Walmart's price at the pump was more than twenty cents higher than Monday as well. On Monday Walmart's gas was priced at $3.30 -- today $3.55

"I noticed it was 3.56 but I just figured it was everywhere," Lubbock Resident, Mark Rowley said.

The Valero, Bolton's, 7-Eleven and even one of the United's off Ave Q and 50th range from $3.33 to $3.39 today.

"Wholesale prices have been going up really since the 4th of July," United Supermarkets Spokesman, Eddie Owens said.

So why the sudden increase in some places and not others?

"A lot of the competition are going to eat those wholesale price increases as long as they can but sooner or later you just cant do that," Owens explained.

Charles Bolton of Bolton's Gasoline says he doesn't expect his prices to jump as high so quickly. "We do have a price increase coming, but its not that substantial. Now ours maybe up higher before the days over, but at this point our price does not need to be in the $3.50 range," Bolton said.

Gasbuddy.com says while our sudden increase is high compared to the rest of the country the price of oil is the reason for it.

"20 cents in one day at some stations that relatively steep, but compared to where wholesale prices were two weeks ago wholesale prices in Lubbock have gone up about 15 to 25 cents per gallon. Stations that are buying new gas are faced with higher cost," GasBuddy.com Petroleum Analyst, Patrick Dehaan explained.

Many people we spoke to said they were on the lookout for cheap gas, but some say its not worth the search. "Either way you have to pay it somewhere, so if its more convenient to get it where you are then get it there," Lubbock Resident Alan West said.

Gasbuddy.com says the Lubbock Area gas average has increased by 4 cents, in comparison to the national average of a 6 cent increase. However, they don't think its unlikely that we will see the increase in prices blanket the South Plains.

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