Modesto gas prices have fallen 2.5 cents per gallon in the past week, averaging $4.45/gallon as of Monday, Jan. 3, according to GasBuddy’s daily survey of 201 stations in Modesto. Gas prices in Modesto are 13.0 cents per gallon lower than a month ago and stand $1.36/gallon higher than a year ago.
According to GasBuddy price reports, the cheapest station in Modesto was priced at $3.99/gallon Monday while the most expensive was $4.99, a difference of $1.00 per gallon. The lowest price in the state Monday was $3.79 while the highest was $5.59, a difference of $1.80/gallon.
“After a pretty long run of falling gas prices, we’ve seen things stabilize. Oil prices have started to rise as omicron hasn’t been as severe as initially feared, leading to optimism that perhaps oil demand will start to rise in the weeks ahead as cases will eventually plateau,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “In addition, Great Lakes states were expected to see a price hike last week, but the hike hasn’t happened just yet, leading me to believe it will occur in short order this week and send the national average higher. For the rest of the nation, with oil near $76 per barrel, we will likely see gas price decreases replaced by minor price increases.”
The national average price of gasoline has fallen 0.9 cents per gallon in the last week, averaging $3.27/gallon on Jan. 3. The national average is down 9.0 cents per gallon from a month ago and stands $1.03/gallon higher than a year ago.
Going back 10 years, the highest price in Modesto on Jan. 3 was $3.54/gallon, recorded both in 2012 and 2014. Highest U.S. average for the 10-year period on Jan. 3 was $3.32 in 2014.
Neighboring areas and their current gas prices include: Stockton - $4.48/gallon, down 2.0 cents per gallon from last week’s $4.50; Oakland - $4.71, down 0.5 cents per gallon from $4.71/gallon; San Jose - $4.74, down 1.4 cents from last week’s $4.75/gallon.
GasBuddy is the authoritative voice for gas prices and the only source for station-level data spanning nearly two decades. GasBuddy’s survey updates 288 times every day from the most diverse list of sources covering nearly 150,000 stations nationwide, the most comprehensive and up-to-date in the country. GasBuddy data is accessible at http://prices.GasBuddy.com.