Modesto gas prices have risen 11.8 cents per gallon in the past week, averaging $3.35/gallon as of Monday, Feb. 22, according to GasBuddy’s daily survey of 201 stations in Modesto. Gas prices in Modesto are 21.2 cents per gallon higher than a month ago and stand 15.4 cents per gallon higher than a year ago.
According to GasBuddy price reports, the cheapest station in Modesto was priced at $2.95/gallon on Feb. 22 while the most expensive was $3.79, a difference of 84.0 cents per gallon. The lowest price in the state was $2.85 while the highest was $4.99, a difference of $2.14/gallon.
The national average price of gasoline has risen 10.4 cents per gallon in the last week, averaging $2.63/gallon on Monday. The national average is up 24.2 cents per gallon from a month ago and stands 15.1 cents per gallon higher than a year ago.
Neighboring areas and their current gas prices include: Stockton - $3.37, up 5.8 cents per gallon from last week’s $3.31; Oakland - $3.56, up 9.3 cents from $3.46; and San Jose - $3.53, up 8.6 cents per gallon from last week’s $3.44/gallon.
“With last week’s extreme cold shutting down millions of barrels per day in refinery capacity, gas prices have seen their largest weekly climb in quite some time,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “The jump in price was the result of a dozen or so refineries, primarily in Texas, that were forced to shut down as the frigid temperatures threatened to wreak havoc on their exposed equipment. With the cold weather behind us, price increases should begin to slow later this week or next week, and so long as these refineries get back online in short order, we may see gas prices start to move back down in the next couple of weeks. However, as we near spring weather, we’ll likely see another longer term rise in prices begin as refineries start to transition to summer gasoline, so motorists shouldn’t jump for joy just yet.”
GasBuddy is the authoritative voice for gas prices and the only source for station-level data spanning nearly two decades. GasBuddy’s survey updates 288 times every day from the most diverse list of sources covering nearly 150,000 stations nationwide, the most comprehensive and up-to-date in the country. GasBuddy data is accessible at http://FuelInsights.GasBuddy.com.