Average retail gasoline prices in Modesto have fallen 3.6 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 fallen 3.3 cents per gallon in the last week to $2.26/gallon, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Modesto during the past week, prices Sunday were 32.9 cents per gallon higher than the same day one year ago and are 4.5 cents per gallon higher than a month ago. The national average has decreased 6.7 cents per gallon during the last month and stands 46.2 cents per gallon higher than this day one year ago.
According to GasBuddy historical data, gasoline prices on Jan. 30 in Modesto have ranged widely over the last five years: $2.27/gallon in 2016, $2.25 in 2015, $3.42 in 2014, $3.54 in 2013 and $3.63/gallon in 2012.
“For the 22nd straight day, the national average for a gallon of gasoline has dropped, the longest such streak since last summer,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “Average prices now stand at their lowest thus far in 2017 and the lowest since before Christmas, thanks primarily to weak demand for gasoline and also bulging inventories of gasoline.”
Areas near Modesto and their current gas price climate: Stockton - $2.64/gallon, down 2.1 cents per gallon from last week’s $2.66; Oakland - $2.79, down 1.1 cents per gallon from last week’s $2.80; San Jose - $2.81/gallon, flat from last week’s $2.81.
“Soaking weather on the West Coast has certainly dampened motorists appetite for gasoline, while in the Midwest, weak demand has led to a surplus of winter gasoline,” DeHaan added. “But before motorists celebrate such cheap gas, the sweet deal likely won’t stick much longer as we’ve been waiting since last week to see such loss-leaders to disappear. However, we may continue to see the national average moderate during the next week, with the exception in the Great Lakes - where a price adjustment of sorts is still expected.”
GasBuddy is the technology company changing the way more than 60 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 60 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.