Average retail gasoline prices in Modesto have risen 4.3 cents per gallon in the past week, averaging $2.53/gallon Sunday, according to GasBuddy’s daily survey of 201 gas outlets in Modesto. This compares with the national average that has fallen 0.5 cents per gallon in the last week to $1.99/gallon, according to gasoline price website GasBuddy.com.
Areas nearby Modesto and their current gas price climate: Stockton- $2.56/gallon, up 2.3 cents per gallon from last week’s $2.53/gallon; Oakland- $2.71, up 2.2 cents per gallon from last week’s $2.69; San Jose- $2.71, up 1.8 cents per gallon from last week’s $2.70/gallon.
Including the change in gas prices in Modesto during the past week, prices Sunday were 4.4 cents per gallon higher than the same day one year ago and are 7.4 cents per gallon higher than a month ago. The national average has decreased 5.0 cents per gallon during the last month and stands 19.9 cents per gallon lower than this day one year ago.
“Talk about starting the New Year off right,” said Patrick DeHaan, GasBuddy senior petroleum analyst. “The national average at $1.99 is a great way to begin 2016, and over twenty cents lower than where we started 2015. The good news is that we could see even more price drops before the seasonal lift that will likely begin as we push towards Spring. For any Americans that made resolutions to try and spend less at the pump this year, I think they will be in good shape to achieve that. The fundamentals of oil remain weak which will contribute to low oil prices for some time, while gasoline demand will likely move lower now with the holidays behind us, putting downward pressure on gasoline prices.”
GasBuddy will be unveiling its 2016 Fuel Outlook in the weeks ahead, which will shed light on what the fuel price climate will be for motorists in the year ahead.
GasBuddy is the premiere source for real-time local gas prices. Founded in 2000, GasBuddy.com developed as an initiative to provide consumers access to local, current gas prices. Through the GasBuddy.com website and the free GasBuddy mobile app, users can find and share gas prices with fellow drivers, saving big money at the pump.