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Gas Prices Continue Slight Rise At Pumps

Average gasoline prices in Modesto have risen 9.0 cents per gallon in the last week, averaging $4.34/gallon as of Feb. 6, according to GasBuddy’s survey of 201 stations in Modesto. Prices in Modesto are 37.2 cents per gallon higher than a month ago and stand 1.3 cents per gallon lower than a year ago. The national average price of diesel has fallen 5.2 cents in the last week and stands at $4.60 per gallon.

According to GasBuddy price reports, the cheapest station in Modesto was priced at $3.93/gallon while the most expensive was $5.05, a difference of $1.12/gallon. The lowest price in the state as of Feb. 6 was $3.59/gallon while the highest was $6.77, a difference of $3.18/gallon.

The national average price of gasoline has fallen 4.4 cents per gallon in the last week, averaging $3.44/gallon. The national average is up 17.5 cents per gallon from a month ago and stands 1.7 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.

Historical gasoline prices in Modesto and the national average going back 10 years show the highest price in California was $4.35 on Feb. 6, 2022 and the lowest was $2.18 on Feb. 6, 2016. Nationally, the highest price was recorded at $3.42 per gallon on Feb 6, 2022 and the lowest was $1.74 per gallon on Feb. 6, 2016.

Neighboring areas and their current gas prices include: Stockton - $4.37/gallon, up 6.4 cents per gallon from last week’s $4.30/gallon; Oakland - $4.63, up 10.2 cents from $4.53/gallon; and San Jose - $4.61/gallon, up 6.8 cents from last week’s $4.54/gallon.

“For the first time in 2023, the national average price of gasoline has seen a weekly decline, primarily thanks to a sharp and sudden drop in the price of oil,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While the decline in both gasoline and diesel prices is terrific, it’s not unusual to see prices falling in February, which tends to be the month with some of the lowest gasoline prices of the year thanks to seasonally weak demand. For diesel, we’re likely to see more declines, and potentially much more significant in the weeks ahead as imports of distillate have accelerated, leading to a sell off. And, with warmer weather ahead, demand may struggle as well. However, especially for gasoline, high levels of coming maintenance and the eventual transition to summer gasoline could lead today’s declines to reverse down the road. For now, motorists should enjoy the decline, but be wary as we’re likely to eventually see increases again down the road.”

GasBuddy is the authoritative voice for gas prices and the only source for station-level data. 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.