Modesto gas prices have fallen 11.1 cents per gallon in the past week, averaging $3.03/gallon as of Monday, March 16, according to GasBuddy’s daily survey of 201 stations. Gas prices in Modesto are 16.6 cents per gallon lower than a month ago and stand 15.2 cents per gallon lower than a year ago.
According to GasBuddy price reports, the cheapest station in Modesto was priced at $2.75/gallon Monday while the most expensive was $3.69, a difference of 94.0 cents per gallon. The lowest price in the state was $2.49 while the highest was $4.79, a difference of $2.30/gallon. The cheapest price in the entire country on March 16 stood at $0.57/gallon while the most expensive was $4.99, a difference of $4.42/gallon.
The national average price of gasoline has fallen 14.3 cents per gallon in the last week, averaging $2.22/gallon Monday. The national average is down 21.2 cents per gallon from a month ago and stands 32.9 cents per gallon lower than a year ago.
Neighboring areas and their current gas prices include: Stockton - $3.06/gallon, down 15.8 cents per gallon from last week’s $3.22; Oakland - $3.35, down 9.8 cents per gallon from last week’s $3.45; San Jose - $3.26, down 12.2 cents per gallon from last week’s $3.38/gallon.
“It’s coming true - gas prices are plummeting in every town, city and state with the national average seeing one of its biggest weekly declines in the last decade,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “The number of stations selling gasoline under $2/gallon has risen to nearly 40,000, up from 15,000 a week ago, while retail prices have collapsed to as low as $1.24/gallon in Oklahoma City last week, with more price drops coming for nearly every station in the week ahead as they continue to pass along the lower replacement cost. The root cause continues to be coronavirus related, since demand for oil slumped globally, inducing the current price war between Russia and Saudi Arabia as they both raise output, causing oil prices to crash through the floor. Such a large decline at this time of year is mind-blowing, as gas prices have risen in all but one year in the last ten during the spring.”
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://FuelInsights.GasBuddy.com.