Average retail gasoline prices in Modesto have fallen 7.5 cents per gallon in the past week, averaging $2.93/gallon on Monday, according to GasBuddy’s daily survey of 201 gas outlets in Modesto. This compares with the national average that has fallen 4.0 cents per gallon in the last week to $2.33/gallon, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Modesto during the past week, prices Monday were 19.6 cents per gallon higher than the same day one year ago and are 14.7 cents per gallon higher than a month ago. The national average has decreased 0.7 cents per gallon during the last month and stands 5.8 cents per gallon lower than this day one year ago.
According to GasBuddy historical data, gasoline prices on June 12 in Modesto have ranged widely over the last five years: $2.74/gallon in 2016, $3.27 in 2015, $3.97 in 2014, $3.82 in 2013 and $4.03/gallon in 2012.
Areas near Modesto and their current gas price climate include: Stockton - $2.98/gallon, down 5.4 cents per gallon from last week’s $3.04; Oakland - $3.12, down 6.0 cents per gallon; and San Jose - $3.12, down 5.3 cents per gallon from last week’s $3.17.
“While the national average fell five cents per gallon in the last week, the bigger story is that 47 states saw average gas prices move lower in the last week, so this isn’t just a here and there trend, it’s almost everywhere,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “Oil prices remain near six-month lows as fundamentals remain weak - supply remains high even in light of production cuts from OPEC while demand has been mild, not remarkable.”
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. The app and website have the most accurate and real-time fuel prices at over 140,000 unique stations in the United States, Canada, and Australia and is the most comprehensive money-saving companion while on the road. GasBuddy is available on all mobile platforms. For more information, visit www.gasbuddy.com.