BAKERSFIELD, Calif. (KERO) — With the Strait of Hormuz at a standstill amid ongoing conflict in the Middle East, gas prices in Bakersfield are climbing, an economics professor warns they could approach record highs as early as next week.
The Strait of Hormuz, located on the southern coast of Iran, remains deadlocked as threats of violence against tankers traveling through the area continue. As a result, the cost of oil continues to rise, driving up the prices of petroleum-based products — most notably gasoline.
Richard Gearhart, an economics professor with Cal State Bakersfield, says prices could rival the record highs set in 2022.
"We are staring down the barrel of $6 plus gas prices as early as next week, and it took eight to nine months for gas prices after Russia invaded the Ukraine, for gas prices to get back to Normal, so we could potentially not see $4 gas prices the rest of this year into next year, and that would be devastating for everyone, because those ripple effects travel everywhere," Gearhart said.
Gearhart added that those ripple effects will be felt in everything from the cost of tires to prescription drugs, as just about anything that relies on petroleum or petroleum by-products will jump in price. The cost of a barrel of oil tipped into triple digits over the weekend.
I visited the gas station on the corner of Gosford Road and White Lane, which had the lowest price listed on GasBuddy.com, and asked drivers their thoughts on the rising costs. Many said the prices feel outrageous.
Alex Jimenez, a delivery driver in Kern County, said the increases are affecting how he manages his fuel.
"I'm not filling up as often. Like I said, as a delivery driver, I use my own vehicle, so I use a lot of gas, but recently, I've been letting it go till nearly empty, just because I'm struggling to afford this," Jimenez said.
Jimenez said he is watching prices closely before deciding when to fill up.
"If I see anything below $4, I'll just go for it," Jimenez said.
Gearhart added that even if the war ended tomorrow, it would likely take months for prices to return to where they were just a few weeks ago.
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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