(KERO) — Gas prices continue to drop around the nation and in Kern County. Triple-A says the national average for a gallon of regular gas is $3.84. The average in California is much higher at $5.26.
In Kern County, the average is $5.34.
According to GasBuddy, the lowest gas price in Bakersfield is $4.33 at the Fastrip at the corner of South Union Avenue and East Pacheco Road.
Across the country, the average price for a gallon of gas has fallen for 76 straight days, the second-longest streak on record. But how much longer we can expect them to fall and what's going to happen in a few weeks that's expected to cause another drop in prices?
It wasn't too long ago when we'd look up at that big digital sign that says so much in only three numbers with anything other than despair. It's hard to forget. It was less than three months ago when the average price of gas nationally, was $5.02 - the highest on record.
Now it's lower - much lower - and those who understand the oil industry say it will likely continue to drop.
"60% of that price is based off what crude oil is going for. We have seen crude oil plummet significantly in the past several months and that has been tied to the decrease in gas prices," explained Skyler McKinley with Triple-A.
Crude oil is the raw natural resource that is taken from the earth and then refined into useable fuel like gas. Like most commodities, it's traded on the market at various prices that are determined by supply and demand. Currently, demand isn't great meaning its price - much like the price of gas - has been falling
"Fundamentally, there are jitters about a global recession that has made investments in crude not that wise. Of course, we use a lot less oil if we are entering into a recession, and the markets are reacting in kind," continued McKinley. "Consumption has fallen. Americans have changed their driving behaviors. Triple-A surveys show up to 65% of drivers have changed their behaviors, not just because of the high price of has, but because of the high price of just about everything. They've decided and planned their lives to use less gas."
So what does this mean for the long term? In a few weeks, the gas supply will switch over to winter blend fuel as it does every fall. It provides a little less energy, but Americans drive less during the winter. Triple-A says that will knock off an additional $0.10 or so from what you're paying at the pump.
