Average retail gasoline prices in Modesto have risen 5.3 cents per gallon in the past week, averaging $2.48/gallon Sunday, Dec. 27 according to GasBuddy’s daily survey of 201 gas outlets in Modesto. This compares with the national average that has not moved in the last week to $2.00/gallon, according to gasoline price website GasBuddy.com. Areas nearby Modesto and their current gas price climate include: Stockton - $2.53/gallon, up 5.0 cents per gallon from last week’s $2.48; Oakland - $2.68, up 4.4 cents per gallon from last week’s $2.64; and San Jose - $2.70/gallon, up 3.7 cents per gallon from last week’s $2.66.
Including the change in gas prices in Modesto during the past week, prices Sunday were unchanged compared to the same day one year ago and are 1.3 cents per gallon lower than a month ago. The national average has decreased 4.2 cents per gallon during the last month and stands 28.2 cents per gallon lower than one year ago.
“As the majority of the United States is still experiencing falling retail gas prices, California and the Great Lakes states are buoying the national average, keeping it from dropping further below $2 per gallon,” said Will Speer, a Houston-based senior petroleum analyst with GasBuddy. “After a healthy 5.9 million barrel draw in domestic crude stocks, crude futures markets responded with gains in the price of West Texas Intermediate crude.
“Despite this bullish pressure, 38 of the 50 states saw a weekly decline in gas prices. However, this majority of states lowering gas prices wasn’t enough to move the national average significantly, a testament to the severity of California’s gas price hike,” added Speer. “As the refining issues impacting California aren’t expected to be resolved this week, California will continue to inflate the national gas price average into the new year.”
For a complete listing of current averages and other fuel price data, visit http://media.gasbuddy.com. For fuel news and alerts, follow @GasBuddyNews on Twitter.