Motorists are paying just a little bit less for gas this week around the region.
Figures released on Monday, July 20 showed that Modesto gas prices have fallen 4.9 cents per gallon in the past week, averaging $2.91/gallon, according to GasBuddy’s daily survey of 201 stations. Gas prices in Modesto are 3.5 cents per gallon higher than a month ago and stand 60.2 cents per gallon lower than a year ago.
According to GasBuddy price reports, the cheapest station in Modesto is priced at $2.59 while the most expensive is $3.47, a difference of 88.0 cents per gallon. The lowest price in the state as of July 20 was $2.43/gallon while the highest was $4.99, a difference of $2.56/gallon.
The national average price of gasoline has fallen 2.0 cents per gallon in the last week, averaging $2.18/gallon on Monday, July 20. The national average is up 5.4 cents per gallon from a month ago and stands 58.4 cents per gallon lower than a year ago.
“Gasoline prices have been quiet last week as markets await the next chapter in the coronavirus situation,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “As cases continue to rise, the likelihood rises that gas prices will stabilize and demand may continue to see small decreases, which is the name of the game behind gas prices. I wouldn’t expect much movement until we either see more states being impacted again or we see cases start to drop, either one would provide clarity to where we stand now. For now, motorists are still ‘stuck’ with the lowest summer gas prices in 16 years.”
Neighboring areas and their current gas prices include: Stockton - $3.03/gallon, down 1.2 cents per gallon from last week’s $3.04; Oakland - $3.20, up 1.6 cents from $3.18; and San Jose - $3.19/gallon, up 1.3 cents from $3.18.
Historical gasoline prices in Modesto and the national average going back 10 years show the highest Modesto price was $3.92 per gallon in 2014 while the highest national average was $3.68 in 2011. In the last 10 years, the lowest Modesto price as of July 20 was $2.61 per gallon in 2016 and the lowest national average was also recorded in 2016, when the cost was $2.18 per gallon.
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.