Prices at the gas pump continue to drop in California.
Average retail gasoline prices in Modesto have fallen 6.5 cents per gallon in the past week, averaging $1.98/gallon on Sunday, according to GasBuddy’s daily survey of 201 gas outlets in Modesto. This compares with the national average that has increased 1.9 cents per gallon in the last week to $1.71/gallon, according to gasoline price website GasBuddy.com.
“Many motorists in the Midwest saw an ugly surprise at the gas pumps last week, as prices spiked as high as 23 cents per gallon in one week’s time in places,” said Will Speer, a GasBuddy senior petroleum analyst. “The spike occurred on the back of news that Midwest refineries were reducing production rates due to poor economics. The rest of the U.S. enjoyed another week of declining gas prices. The largest decline in retail gas prices occurred in Southern California, as the wholesale gasoline price fell to the cheapest in the country. Expect West Coast motorists to reap the benefits of these low wholesale prices at the pump in the upcoming week.”
Including the change in gas prices in Modesto during the past week, prices Sunday were 75.9 cents per gallon lower than the same day one year ago and are 40.3 cents per gallon lower than a month ago. The national average has decreased 13.1 cents per gallon during the last month.
According to GasBuddy historical data, gasoline prices on Feb. 22 in Modesto have ranged widely over the last five years: $2.74 per gallon in 2015, $3.57 in 2014, $4.02 in 2013, $3.97 in 2012 and $3.52 per gallon in 2011.
Areas nearby Modesto and their current gas price climate include: Stockton - $2.11/gallon, down 4.7 cents per gallon from last week’s $2.16; Oakland - $2.29, down 3.4 cents per gallon from last week’s $2.33; and San Jose - $2.29/gallon, down 4.5 cents per gallon from last week’s $2.34/gallon.
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.