Lubbock Gas Prices Spike in the New Year - KCBD NewsChannel 11 Lubbock

1/5/09

Lubbock Gas Prices Spike in the New Year

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A new President taking office and mid-east violence could be part of the overnight jump in gas prices.

NewsChannel 11 spotted Lubbock prices ranging from a $1.53 to $1.55 Monday. That's up about a dime, but still less than the national average of $1.67, which rose five cents from last week.

We contacted AAA to find out what caused this spike. Spokesman, Dan Ronan, tells us fighting between Iraeli and Plestinian forces may have contributed to the hike. He says a stronger dollar and optimism for economic growth in the new year, under a new President may have also played a role.

Whether these effects will last is not certain, but AAA says it is possible prices will drop before the end of February. 

Last year at this time, gas was $2.85 a gallon in our region.

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