Modesto gas prices have risen 15.0 cents per gallon in the past week, averaging $3.50/gallon as of March 1, according to GasBuddy’s daily survey of 201 stations in Modesto. Gas prices in Modesto are 29.8 cents per gallon higher than a month ago and stand 33.9 cents per gallon higher than a year ago.
According to GasBuddy price reports, the cheapest station in Modesto was priced at $2.95/gallon on March 1 while the most expensive was $3.99, a difference of $1.04/gallon. The lowest price in the state was $2.79 while the highest was $5.79, a difference of $3.00/gallon.
The national average price of gasoline has risen 7.5 cents per gallon in the last week, averaging $2.72/gallon. The national average is up 30.3 cents per gallon from a month ago and stands 30.6 cents per gallon higher than a year ago.
Neighboring areas and their current gas prices include: Stockton - $3.56/gallon, up 13.5 cents per gallon from last week’s $3.43; Oakland - $3.69, up 12.1 cents from $3.57; and San Jose - $3.66, up 12.4 cents per gallon from last week’s $3.54/gallon.
“Gas prices continued to surge last week following cold weather related shutdowns in Texas, but going forward, the impact from the cold has likely run its course. However, several other factors will rise in their influence on gas prices again, including the fact that gasoline demand continues to pick up steam,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “According to Pay with GasBuddy data, last week’s total gasoline demand soared to the highest level since the pandemic began as COVD-19 cases continue to drop and Americans are filling up more. On the supply side, the number of oil rigs active in the U.S. stands nearly 50 percent lower than a year ago, which is a large factor driving prices up. To put it simply, demand is recovering much faster than oil production levels, which is why oil prices have soared.”
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.