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Auto Club: Daily gas price hikes may be waning soon

Price in Bakersfield rose 74 cents in 1 week
Gas Prices
Posted at 12:06 PM, Mar 10, 2022
and last updated 2022-03-10 15:13:40-05

(KERO) — Bakersfield's average gas price rose to $5.56 per gallon, an increase of 74 cents from last Thursday, according to Auto Club’s Weekend Gas Watch. But the Auto Club says double-digit daily price hikes may be coming to an end.

“Yesterday, oil prices began dropping after the United Arab Emirates announced it would increase oil production and encourage other OPEC members to do the same,” said Auto Club spokesman Doug Shupe. “However, locally there appears to be an issue with the Torrance PBF refinery after a power outage has caused five days of ‘unplanned flaring’ there, which is a sign of a breakdown that could disrupt gas supply. It remains to be seen whether that will continue to drive pump prices up even if oil prices drop more.”

The Auto Club says the war in Ukraine and problems at a Southern California refinery helped create the worst one-week gas price jump ever.

Average gas prices in Bakersfield are 97 cents higher than last month and $1.89 higher than last year, according to the Auto Club.

California's average gas price is $5.69 compared to the national average of $4.32, which is a new record in the U.S.

The Central Coast is seeing average prices of $5.69 and the Los Angeles-Long Beach area is seeing $5.78 per gallon.