Expect large and frequent increases. That's what local gas analyst say after hurricane Katrina devastated parts of Louisiana. Tuesday morning regular unleaded was still priced at $2.74 throughout Lubbock. Monday, drivers saw a twenty cent increase raising the price at some stations. The increase created long lines at several gas stations.
Hurricane Katrina shut down more than 600,000 barrels of daily oil and forced the evacuation of more than 700 offshore rigs Monday. Local stations tell us they are not profiting but only charging a penny or two more than what they're paying for gas.
Experts tell us we will continue to see an increase in prices. A few stations in Lubbock are out of regular unleaded due to Monday's spike. We're told chances are extremely low any station will receive gas soon.
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Texas Gas Prices