The region has seen a slight rise in the prices at the pump in recent days.
Modesto gas prices have risen 4.4 cents per gallon in the past week, averaging $3.20/gallon as of Monday, Feb. 17, according to GasBuddy’s daily survey of 201 stations. Gas prices in Modesto are 2.8 cents per gallon higher than a month ago and stand 21.1 cents per gallon higher than a year ago.
According to GasBuddy price reports, the cheapest station in Modesto was priced at $2.89/gallon on Monday while the most expensive was $3.89, a difference of one dollar per gallon. The lowest price in the state Monday was $2.59 while the highest was $4.89, a difference of $2.30/gallon. The cheapest price in the entire country on Feb. 17 stood at $1.71/gallon while the most expensive was $100.60/gallon, a difference of $98.89 per gallon.
The national average price of gasoline has risen 0.7 cents per gallon in the last week, averaging $2.43/gallon. The national average is down 12.1 cents per gallon from a month ago and stands 11.5 cents per gallon higher than a year ago.
Neighboring areas and their current gas prices include: Stockton - $3.19, down 2.7 cents per gallon from last week’s $3.22; Oakland - $3.48, down 3.3 cents from $3.51; and San Jose - $3.43, down 2.2 cents from last week’s $3.46/gallon.
“Oil prices rebounded last week on word that OPEC members were closely considering cutting global oil production for several months to offset the decline in demand due to the coronavirus, pushing the national average marginally higher versus a week ago,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “While it’s possible average gasoline prices will remain within arm’s reach of recent lows, unless there’s renewed or new concerns with the spread of the coronavirus, we may have seen the deepest discounted prices behind us, with some chance we’ll hold close to the lows before the seasonal rally begins in earnest. It wouldn’t be a bad time to fill up to hedge the chances of prices rising in the coming days.”
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.