Average retail gasoline prices in Modesto have risen 0.6 cents per gallon in the past week, averaging $2.73/gallon Sunday, according to GasBuddy’s daily survey of 201 gas outlets in Modesto. This compares with the national average that has fallen 4.5 cents per gallon in the last week to $2.34/gallon, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Modesto during the past week, prices Sunday were 47.5 cents per gallon lower than the same day one year ago and are 9.7 cents per gallon higher than a month ago. The national average has increased 6.1 cents per gallon during the last month and stands 46.0 cents per gallon lower than this day one year ago.
According to GasBuddy historical data, gasoline prices on June 20 in Modesto have ranged widely over the last five years: $3.20/gallon in 2015, $3.95 in 2014, $3.83 in 2013, $3.90 in 2012 and $3.79/gallon in 2011.
Areas nearby Modesto and their current gas price climate include: Stockton - $2.75/gallon, flat from last week’s $2.75; Oakland - $2.87, down 1.2 cents per gallon from last week’s $2.88; San Jose - $2.90, down 1.3 cents per gallon from last week’s $2.91.
“The price of crude oil, which had been gaining steam leading up to June, has now experienced a sustained downturn over the last couple of weeks. As crude oil prices have cooled off, the impact is finally being felt in the retail gasoline sector, where the national average for gasoline fell over 5 cents per gallon in one week’s time,” said Will Speer, GasBuddy senior petroleum analyst. “No area has seen this impact more pronounced than the Great Lakes states, where Indiana and Ohio saw their gas prices fall over 15 cents per gallon in one week.”