Not the best news for consumers this winter. Heating your home could cost up to 200 percent more than last year. That's the estimate from the Lubbock Ecnomic Development Alliance.
Natural gas prices nationwide are expected to increase 150 to 200 percent over last year's prices. Economists say hurricanes have disrupted production but record heat and cold spells also play a role. The good news is gas prices are high but holding steady in Lubbock.
Drivers are paying anywhere from $2.67 to $2.85 per gallon of gas, but the average is about $2.79.
"I think gasoline has probably peaked at this point. I don't think we're going to have $4 or $5 a gallon gasoline, thank goodness. So, I think probably if you can live with it $2.60 or $2.70, which is hard to live with, it's hard for everybody to live with, but I don't foresee it going up dramatically in the future," L.E.D.A. CEO Gary Boren said.
The cost of living in Lubbock rose 1.4% in August. Transporation costs including gas increased nearly 6%.
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