BAKERSFIELD, Calif. (KERO) — As conflict in the Middle East continues, drivers in Bakersfield could soon feel the impact at the pump. I spoke with an industry leader and an economics analyst to find out what consumers can expect in the coming days, weeks, and months.
Raji Brar, COO of Countryside Corporation — a company that specializes in the construction of businesses, including gas stations — said conflict in the Middle East typically drives oil prices higher as supply tightens in the global marketplace.
"When something is scarce, the price rises. So when there's global conflict, especially in the oil markets. So basically what happens is the oil prices spike, and then following a few days, you're going to see that gas prices go up," Brar said.
According to an ABC News report, the price of crude oil in the U.S. and Europe surged on Monday as news of attacks against Iran and retaliatory attacks from Iran continued to develop.
Richard Gearhart, an economics professor at CSUB, said consumers may already be noticing small changes at the pump — but how much prices rise from here depends largely on how long the conflict lasts.
"You might have noticed that your local gas stations probably increase the price of their gas by about 10 to 20 cents today, which is what you would expect," Gearhart said.
"If this lasts, you know, 12 days, or what we previously did to Iran, there's not going to be much of an impact. You're going to see gas prices fall back down pretty quickly."
Gearhart said the longer-term outlook carries more serious consequences if the conflict escalates.
"Under a worst-case scenario, this is a long-term war in the Middle East. You could see gas prices above $6 a gallon, which is very high. You would see inflation above 3% here in the United States, and we've done a relatively good job of keeping that down. You'd expect economic growth to stall, and you'd see people's standard of living fall considerably," Gearhart said.
Despite warnings from experts, drivers I spoke with at two gas stations on Rosedale Highway didn't appear overly concerned. Of the 5 people we spoke with, all said they weren't thinking about gas prices going up — they were simply filling up because they needed gas.
This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
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