Average retail gasoline prices in Modesto have risen 14.5 cents per gallon in the past week, averaging $2.22 per gallon on Sunday, according to GasBuddy’s daily survey of 201 gas outlets in Modesto. This compares with the national average that has increased 6.8 cents per gallon in the last week to $1.81/gallon, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Modesto during the past week, prices yesterday were 105.6 cents per gallon lower than the same day one year ago and are 7.9 cents per gallon higher than a month ago. The national average has increased 7.6 cents per gallon during the last month and stands 64.4 cents per gallon lower than this day one year ago.
According to GasBuddy historical data, gasoline prices on March 7 in Modesto have ranged widely over the last five years: $3.27/gallon in 2015, $3.72 in 2014, $4.03 in 2013, $4.25 in 2012 and $3.83/gallon in 2011.
“Taking a cue from the prior week’s price rebound, retail gasoline prices continued an upward push by increasing nearly 9 cents per gallon on average nationwide,” said Will Speer, GasBuddy senior petroleum analyst. “While most of the gasoline market was pricing in the premium associated with the transition to summer-blend gasoline, last week’s strength in crude futures prices provided no relief for the rising gas prices. Although crude oil production fell to the lowest since November 2014, crude and petroleum stocks remain the highest ever recorded in US history. This oversupply will provide a ceiling for gas prices over the next couple of months as spring refinery maintenance and the summer-blend gasoline transition put upward pressure on prices.”
Areas nearby Modesto and their current gas price climate include: Stockton - $2.25/gallon, up 8.6 cents per gallon from last week’s $2.16; Oakland - $2.38, up 4.2 cents per gallon from last week’s $2.34; and San Jose - $2.39, up 3.9 cents per gallon from last week’s $2.36/gallon.
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.