LUBBOCK, Texas — Hurricane Laura caused gas prices to rise about five cents on average this week across the state and the nation, according to a news release from AAA Texas.
“Despite being a powerful Category 4 hurricane, reports indicate that most U.S. Gulf Coast refining equipment in Laura’s path was spared from significant damage, except for two in Louisiana,” said AAA Texas spokesperson Daniel Armbruster. “While damage surveys are still underway, regional gasoline stocks remain healthy which has helped to keep prices from spiking significantly.”
Industry analysts caution that if platforms and rigs are offline for an extended amount of time, supply could tighten, and gas prices could be impacted.
In Lubbock, AAA Texas reported the average retail price was reported at $1.879 on Saturday.
The website GasBudddy.com, however, reported an average retail price of $1.87 here in the Hub City. The website also noted drives could find gas prices as low as $1.65 a gallon in Lubbock.