Average retail gasoline prices in Modesto have fallen 1.6 cents per gallon in the past week, averaging $2.60/gallon Sunday, according to GasBuddy’s daily survey of 201 gas outlets in Modesto. This compares with the national average that has increased 1.5 cents per gallon in the last week to $2.22/gallon, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Modesto during the past week, prices Sunday were 3.3 cents per gallon lower than the same day one year ago and are 10.9 cents per gallon higher than a month ago. The national average has increased 1.4 cents per gallon during the last month and stands 7.3 cents per gallon lower than this day one year ago.
According to GasBuddy historical data, gasoline prices on Oct. 3 in Modesto have ranged widely over the last five years: $2.64/gallon in 2015, $3.54 in 2014, $3.77 in 2013, $4.12 in 2012 and $3.76/gallon in 2011.
Areas nearby Modesto and their current gas price climate: Stockton - $2.64/gallon, down 2.6 cents per gallon from last week’s $2.67; Oakland - $2.79, flat from last week’s $2.78; San Jose - $2.79, down 0.6 cents per gallon from last week’s $2.80/gallon.
“Gasoline prices quickly reacted to news last week that OPEC had come to a decision regarding cutting back oil production,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “Oil prices surged on the news which fueled gas prices to jump as well, but several days after the news broke, there’s reason to doubt OPEC’s sincerity of a possible production cut. In addition, Hurricane Matthew is a major storm worth monitoring as it heads for the East Coast, perhaps to areas affected by the Colonial Pipeline outage last month. Should fuel availability and power outages arise from Matthew, GasBuddy stands ready to activate our Gasoline Availability Tracker.”
GasBuddy is the premiere source for real-time local gas prices. Founded in 2000, GasBuddy.com developed as an initiative to provide consumers access to local, current gas prices. Through the GasBuddy.com website and the free GasBuddy mobile app, users can find and share gas prices with fellow drivers, saving big money at the pump.