Gas price increases locally have slowed down somewhat but they still rose by double digits this past week.
Average gasoline prices in Modesto have risen 10.4 cents per gallon in the last week, averaging $5.57/gallon on March 30, according to GasBuddy’s survey of 201 stations in Modesto. Prices in Modesto stand $1.03/gallon higher than a year ago.
According to GasBuddy price reports, the cheapest station in Modesto was priced at $4.95/gallon while the most expensive was $6.79, a difference of $1.84/gallon. The lowest price in the state was $4.49 while the highest was $9.99, a difference of $5.50/gallon.
The national average price of gasoline has risen 2.4 cents per gallon in the last week, averaging $3.95/gallon on March 30. The national average is up 97.9 cents per gallon from a month ago and stands 83.8 cents per gallon higher than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.
Neighboring areas and their current gas prices include: Stockton - $5.59/gallon, up 8.7 cents per gallon from $5.50; Oakland - $5.82, up 3.8 cents from $5.78; and San Jose - $5.83/gallon, up 5.9 cents from last week’s $5.77/gallon.
“Gasoline and diesel prices continue to climb to multi-year highs as the effective closure of the Strait of Hormuz curtails the flow of millions of barrels of crude oil each day,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “The situation remains highly volatile and unpredictable, but upward pressure on fuel prices is likely to persist as long as global oil supplies are constrained by the continued disruption in the Strait. We’re likely to see the national average for gasoline push beyond the $4-per-gallon mark, while diesel could approach $6 per gallon and potentially set new records if conditions fail to improve. Americans have already spent nearly $8 billion more on gasoline over the past month, a trend that poses growing risks to the broader economy, while surging diesel prices may begin to reaccelerate inflation.”
Historical gasoline prices in Modesto and the national average going back five years show the highest average price in Modesto on March 30 was $5.62 per gallon in 2022 while the highest U.S. average was $4.24 on the same date. Lowest Modesto price was $3.74 on March 30, 2021, the same date as the lowest U.S. average price of $2.87 per gallon.
GasBuddy, a PDI Technologies company, delivers real-time prices at 150,000+ stations and is the most authoritative source of station-level fuel pricing data, updating averages 288 times daily from the broadest mix of inputs— spotter reports, direct station integrations, and transactional data.
