Gas prices expected to soar - KCBD NewsChannel 11 Lubbock

Gas prices expected to soar


Drivers around the country will shell out more cash at the pump in coming months. Even here in Lubbock gas prices are expected to rise upwards of four dollars by the end of April.

Currently, the national average is $3.52 per gallon. This is a record high price for this time of year, and experts are predicting a steep rise in the coming months. Gas prices always rise in the spring when demand is greater. But because they're so high already, experts say prices could reach $4.25 per gallon nationally by the end of April.

Drivers around Lubbock are already concerned. Irene Hernandez says the prices are outrageous. She's worried that she may have to start taking the bus if the trend continues.

"There are a lot of people saying that the prices are outrageous and they keep going up," Hernandez said.

Texas Tech Petroleum Engineering department head Mohamed Soliman says the current state of the Middle East is a major factor in the price hike.

"Anytime you have you have a disturbance in supply, you end up having higher prices… The supply does not exceed the demand very much, so anytime you lose any supply, the prices will go up" Soliman said.

However, he says that Lubbockites should be thankful. Lubbock gas prices are typically below the national average. Currently, local pumps are about 15 cents cheaper.

"Texas will be cheaper because we have oil here, so transportation is cheaper - a large percentage of oil comes out of this area" Soliman added.

Brad Moyers delivers gasoline for a living. He has to make sacrifices because of the rising costs just like everyone else. He wishes that we would rely less on foreign oil, but understands the necessity of it.

"Petroleum is something we'll be stuck with from now on. If god didn't intend for us to use it he wouldn't have put it there" Moyers said.

Soliman says another reason Lubbock residents pay less at the pump is because Texans pay a smaller state gas tax. 38.4 cents is added onto every gallon. States like California see gasoline taxes as high as 67 cents.

So although gas prices are still projected to rise in the coming months here in Lubbock, residents could be far worse off in other areas.

Copyright 2012 KCBD NewsChannel 11

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