Lower Gas Prices Please Lubbock Businesses - KCBD NewsChannel 11 Lubbock

10/15/08

Lower Gas Prices Please Lubbock Businesses

Gas prices have fallen a whole dollar in the past two months.  Around this time in August, a gallon for regular unleaded was as high as $3.85, here in Lubbock.

"I love it," said a happy driver.  "Right now it's really good, I like it," said another.   

People filling up their gas tanks are all smiles on Wednesday, since they are finally getting a break at the pump.  "I think it's great, it's about time we had a little lower prices, hopefully they will go lower, make it easy on us," said one motorist. 

Around Lubbock we found gas prices ranging from $2.79 to $2.85, and some local businesses are really starting to notice the drop.  Yellow Cab taxi service had to raise their prices a couple of months ago, because gas was so high.   "We had raised our prices and the city has granted us a 50 cent surge fuel charge that we have decided if gas went below $3.00 a gallon, we would drop, so currently we are not charging the fuel surge charge so it's a little better all around for everybody," said Yellow Cab Vice President Steve Sexton. 

Although business has been steady at Yellow Cab, now drivers are noticing an increase in their earnings.  "A better situation now than it was several months ago and I would figure it's probably earning them another 15 to 20 dollars a day, more in their pocket because of the gas prices," said Sexton.  

90% of the business at Adam's Flowers is deliveries.  Their gas bill use to be $1000 a month, but this month it's only going to cost them $650.  "Since the prices have gone done a dollar that means a third of our expenses has gone down on delivery and running our vehicles," said Adam's Flowers Owner Troy McCrummen.    

They almost had to raise their prices to keep up with the soaring fuel costs.  "The last time when it started rising so high, we started to go up and I thought well we better hold off and see what happens and luckily it has gone down and I hope it stays down," said McCrummen. 

Gas prices have seen a dramatic tumble nationwide.  Texas is toward the bottom with some of the cheapest gas in the US.

With the pump price limbo, motorists worry this is as low as they're going to go. "It's probably not going to stick around, of course not, the good stuff never does," laughs a motorist. 

"I'm hoping it will, because I don't want to go around and buy a bicycle, but it's really good right now thank God," said one hopeful driver.

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