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Motorists see slight hike in pump prices
gas buddy

Average gasoline prices in Modesto have risen 6.7 cents per gallon in the last week, averaging $4.40/gallon as of Jan. 8, according to GasBuddy’s survey of 201 stations in Modesto. Prices in Modesto are 4.6 cents per gallon higher than a month ago and stand 39.8 cents per gallon higher than a year ago. The national average price of diesel has fallen 5.6 cents in the last week and stands at $3.90 per gallon.

According to GasBuddy price reports, the cheapest station in Modesto was priced at $3.86/gallon while the most expensive was $5.19, a difference of $1.33/gallon. The lowest price in the state was $3.54 while the highest was $7.59, a difference of $4.05/gallon.

The national average price of gasoline has fallen 3.8 cents per gallon in the last week, averaging $3.03/gallon on Jan. 8. The national average is down 12.2 cents per gallon from a month ago and stands 22.0 cents per gallon lower than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

Neighboring areas and their current gas prices include: Stockton - $4.39, down 0.8 cents per gallon from last week’s $4.40; Oakland - $4.65, down 3.4 cents from $4.68; and San Jos- $4.67/gallon, unchanged from last week.

“Sluggish gasoline demand has led to the national average easing again, and brings back the potential for the national average to drift under $3 per gallon for the first time since 2021,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “With a record rise in gasoline inventories last week as demand was anemic during the holidays, motorists have provided the catalyst for falling prices. If demand remains weak, gasoline prices could fall further. In addition, refinery issues in California have also eased, which will soon cause prices to decline in California, Nevada and Arizona, providing momentum for a possible run at a $2.99 national average. However, the better it gets now, the more bumpy and sharp the rise could be ahead of the spring, as prices could start their rise of 35 to 85 cents per gallon around mid-February.”

Going back 10 years, the lowest price in Modesto on Jan. 8 was $2.46 per gallon in 2015 and the highest was $4.47 per gallon in 2022. Nationwide, the lowest price was $1.98 in 2016 and the highest was $3.30 per gallon, both in 2014 and 2022.