BAKERSFIELD, Calif. (KGET) — The price of crude oil has dropped by almost 30 percent since its peak in early March.

Experts say that’s likely because markets anticipate an uptick in oil production from countries that do the most drilling.

But if you fill up your car each week — or more frequently — you’re likely more concerned about the staggering gas prices. Why aren’t those falling?

Dr. Richard Gearhart, associate economics professor at Cal State Bakersfield, points to gas stations’ need for insurance.

“Gas stations are still hesitant to lower prices because they don’t know if the oil fall is temporary or if it’s permanent,” Dr. Gearhart said.

The price of crude oil can fluctuate rapidly, and gas stations need to have enough in the bank to anticipate another spike. If the invasion of Ukraine drags on, or if oil-producing countries don’t raise their output, the price of oil could shoot back up.

Regardless of oil prices, Dr. Gearhart expects gas prices to stay at their current peak for at least a few weeks.