Modesto gas prices have fallen 0.6 cents per gallon in the past week, averaging $3.07/gallon as of Oct. 5, according to GasBuddy’s daily survey of 201 stations. Gas prices in Modesto are 2.2 cents per gallon higher than a month ago and stand 89.9 cents per gallon lower than a year ago.
According to GasBuddy price reports, the cheapest station in Modesto was priced at $2.63/gallon Monday while the most expensive was $3.59, a difference of 96.0 cents per gallon. The lowest price in the state was $2.39 while the highest was $4.25, a difference of $1.86/gallon.
The national average price of gasoline has fallen 0.7 cents per gallon in the last week, averaging $2.17/gallon as of Monday, Oct. 5. The national average is down 4.3 cents per gallon from a month ago and stands 49.0 cents per gallon lower than a year ago.
Neighboring areas and their current gas prices include: Stockton - $3.05/gallon, down 3.1 cents per gallon from last week’s $3.08; Oakland - $3.29, down 1.7 cents from $3.30/gallon; and San Jose - $3.29/gallon, unchanged from last week’s $3.29/gallon.
“It’s been a fairly quiet week for gas prices yet again, but with oil tanking last week, there’s a possibility motorists may see a renewed downward direction in average prices in the days or weeks ahead,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “However, according to Pay with GasBuddy data, gasoline demand inexplicably rose last week to the highest level since August, breaking with conventional wisdom that fall demand is typically weak. While we have no direct reasoning for the rebound, five of seven days last week saw much above the prior week’s gasoline demand, in fact, Friday saw the highest gasoline demand since Labor Day. If demand continues to somehow defy such conventional trends, we may see an end to the possibility of future declines.”
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.