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Prices Inch Downward At Local Gas Pumps

Average gasoline prices in Modesto have fallen 9.1 cents per gallon in the last week, averaging $4.32/gallon as of Dec. 11, according to GasBuddy’s survey of 201 stations in Modesto. Prices in Modesto are 50.8 cents per gallon lower than a month ago and stand 18.0 cents per gallon higher than a year ago. The national average price of diesel has fallen 8.4 cents in the last week and stands at $4.10 per gallon.

According to GasBuddy price reports, the cheapest station in Modesto was priced at $3.83/gallon while the most expensive was $5.19, a difference of $1.36/gallon. The lowest price in the state was $3.49 while the highest was $7.79, a difference of $4.30/gallon.

The national average price of gasoline has fallen 9.6 cents per gallon in the last week, averaging $3.11/gallon on Dec. 11. The national average is down 23.7 cents per gallon from a month ago and stands 10.1 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.

Over the past 10 years, the lowest average price in Modesto was $2.42 per gallon on Dec. 11, 2015 while the highest was $4.57 per gallon in 2021. Nationwide, the lowest Dec. 11 price was $2.01 in 2015; the highest was $3.34 in 2021.

Neighboring areas and their current gas prices include: Stockton - $4.29/gallon, down 9.6 cents from last week’s $4.39; Oakland - $4.65, down 8.3 cents from $4.74/gallon; and San Jose - $4.62, down 4.6 cents per gallon from last week’s $4.67/gallon.

“For the 12th straight week, or three straight months, the national average has continued to decline, now at its lowest level of 2023 heading into the prime of the holiday season as oil prices continue to struggle amidst cooling demand,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “With nearly 80,000 gas stations in the U.S. now priced below $3 per gallon, and 23 states also seeing average prices of $2.99 or less, motorists are getting substantial relief at the pump in time for the holidays. The trend is likely to continue in most states this week, while the national average could soon fall below $3.05 per gallon, the lowest since 2021. The good news may continue into 2024, with GasBuddy’s annual Fuel Outlook being released in just a few weeks.”

GasBuddy is the authoritative voice for gas prices and the only source for station-level data. 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.