Average retail gasoline prices in Modesto have fallen 0.9 cents per gallon in the past week, averaging $2.61/gallon Sunday, according to GasBuddy’s daily survey of 201 gas outlets in Modesto. This compares with the national average that has fallen 0.7 cents per gallon in the last week to $2.26/gallon, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Modesto during the past week, prices Sunday were 42.7 cents per gallon higher than the same day one year ago and are 0.6 cents per gallon higher than a month ago. The national average has decreased 10.9 cents per gallon during the last month and stands 51.6 cents per gallon higher than this day one year ago.
According to GasBuddy historical data, gasoline prices on Feb. 6 in Modesto have ranged widely over the last five years: $2.18/gallon in 2016, $2.38 in 2015, $3.40 in 2014, $3.78 in 2013 and $3.65/gallon in 2012.
“Gasoline prices nationally have continued their typical seasonal trajectory lower,” said Patrick DeHaan, senior petroleum analyst for GasBuddy.com. “Gasoline inventories have continued to show impressive gains lately, limiting the effects of rising oil prices on gasoline prices for the time being.”
Areas near Modesto and their current gas price climate include: Stockton - $2.65/gallon, flat from last week’s $2.65; Oakland - $2.79, down 0.8 cents from last week’s $2.80; and San Jose - $2.81, up 0.7 cents per gallon from last week’s $2.80/gallon.
“While the majority of states (37) saw average gasoline prices decline, thirteen saw prices advancing, especially in the Great Lakes - thanks to the region’s price cycling mechanisms,” noted DeHaan. “Gasoline prices should continue to remain relatively low during the next week, but Wednesday’s weekly report from the Energy Information Administration will be a major key to understand when the bulk of refinery season has begun and what impact that will have on gasoline inventories.”
GasBuddy is the technology company changing the way more than 60 million consumers find, purchase, and save money on gasoline. Founded in 2000, the original GasBuddy website was a pioneer in crowd-sourced information, leveraging technology, big data, and a passionate community that now connects more than 60 million users with real-time, accurate fuel pricing information as well as reliable reviews of gas station amenities and services.