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Now is the time to buy gas as prices drop in Bakersfield

Gas Pump (FILE)
Posted at 7:42 AM, Jul 15, 2019
and last updated 2019-07-15 10:43:04-04

BAKERSFIELD, Calif. — If you're heading out this morning and planning on filling up the tank, we have some good news for you.

According to gasbuddy.com gas prices in Bakersfield have dropped nearly 4 and a half cents per gallon in the past week. The average price for a gallon of regular gas is about $3.74.

The lowest gas price in Bakersfield is $3.32 cents today. That's at the On the Go Food Store gas station on 2501 River Boulevard in northeast Bakersfield.

And you might not want to wait to get gas. According to some experts, the recent tropical storm in the gulf could cause prices to go back up. US oil surged above $60 a barrel on Wednesday amid worries that Tropical Storm Barry could derail crude production in the Gulf of Mexico.

Besides the storm concerns, oil prices were also sent higher by inventory reports by the American Petroleum Institute and the Energy Information Administration that showed that crude oil inventories declined last week. Scotiabank energy analyst Michael Loewen called the EIA data "another fundamentally bullish report."