Average retail gasoline prices in Modesto have fallen 4.6 cents per gallon in the past week, averaging $2.90/gallon Sunday, according to GasBuddy’s daily survey of 201 gas outlets in Modesto. This compares with the national average that has fallen 3.3 cents per gallon in the last week to $2.41/gallon, according to gasoline price website GasBuddy.com.
“As we approach Christmas, average gas prices in the U.S. have fallen to their lowest point in 110 days,” said Patrick DeHaan, head of petroleum analysis for GasBuddy.
Including the change in gas prices in Modesto during the past week, prices Sunday were 43.8 cents per gallon higher than the same day one year ago and are 11.2 cents per gallon lower than a month ago. The national average has decreased 12.9 cents per gallon during the last month and stands 17.3 cents per gallon higher than this day one year ago.
According to GasBuddy historical data, gasoline prices on Dec. 18 in Modesto have ranged widely over the last five years: $2.46/gallon in 2016, $2.40 in 2015, $2.63 in 2014, $3.42 in 2013 and $3.33/gallon in 2012.
Areas near Modesto and their current gas price climate include: Stockton - $2.96/gallon, down 4.5 cents per gallon from last week’s $3.01; Oakland - $3.12, down 2.8 cents from last week’s $3.15; and San Jose - $3.10, down 2.1 cents per gallon from last week’s $3.12/gallon.
“As long as demand for gasoline continues to weaken, gasoline inventories will continue growing and it’ll be the gift that keeps on giving,” DeHaan noted. “In addition, the gap between prices today and a year ago is also at its narrowest in months, highlighting that prices are moving in the right direction for many. As we look towards our annual Fuel Outlook being released just after the New Year, there are some bright spots along with some concerns that lay ahead for 2018.”
For LIVE fuel price averages, visit http://FuelInsights.GasBuddy.com.
GasBuddy is the technology company changing the way more than 70 million consumers find, purchase, and save money on gasoline. Founded in 2000, the original GasBuddy website was a pioneer in crowd-sourced information, leveraging technology, big data, and a passionate community that now connects more than 70 million users with real-time, accurate fuel pricing information as well as reliable reviews of gas station amenities and services. The app and website have the most accurate and real-time fuel prices at over 140,000 unique stations in the United States, Canada, and Australia and is the most comprehensive money-saving companion while on the road. GasBuddy is available on all mobile platforms. For more information, visit www.gasbuddy.com.