Modesto gas prices have risen 5.0 cents per gallon in the past week, averaging $3.96/gallon, according to GasBuddy’s daily survey of 201 stations. Gas prices in Modesto are 40.7 cents per gallon higher than a month ago, and stand 48.6 cents per gallon higher than a year ago.
According to GasBuddy price reports, the cheapest station in Modesto was priced at $3.69/gallon on May 6 while the most expensive was $4.29, a difference of 60 cents per gallon. The lowest price in the state was $3.41/gallon while the highest was $5.58, a difference of $2.17/gallon. The cheapest price in the entire country as of May 6 stood at $2.15/gallon while the most expensive was $5.58, a difference of $3.43/gallon.
The national average price of gasoline has risen 1.3 cents per gallon in the last week, averaging $2.89. The national average is up 14.3 cents per gallon from a month ago, and stands 9.1 cents per gallon higher than a year ago.
Neighboring areas and their current gas prices include: Stockton - $3.98, up 3.3 cents per gallon from last week’s $3.94; Oakland - $4.13, up 2.6 cents per gallon from last week’s $4.10; and San Jose - $4.13, up 3.0 cents from last week’s $4.10/gallon.
“It appears that large increases in gas prices have begun to fade to distant memory, lending credibility to the notion that gas prices may be close to peaking for the time being,” said Patrick DeHaan, head of petroleum analysis at GasBuddy. “For now, I believe we’re close to seeing gas prices peak in the next few weeks or so in most of the U.S., and barring any future unexpected outages, I think most of the country has seen the risk of big price increases melt away. We’re in the last inning or so of the seasonally rally – once this game is over – we’ll likely begin to see prices recede in the month of June, tracking very closely to what we experienced last summer.”
For LIVE fuel price averages, visit http://FuelInsights.GasBuddy.com.