Average retail gasoline prices in Modesto have fallen 2.3 cents per gallon in the past week, averaging $2.59/gallon on July 25, 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 $2.15/gallon, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Modesto during the past week, prices Sunday were 74.9 cents per gallon lower than the same day one year ago and are 11.9 cents per gallon lower than a month ago. The national average has decreased 15.7 cents per gallon during the last month and stands 56.6 cents per gallon lower than this day one year ago.
According to GasBuddy historical data, gasoline prices on July 25 in Modesto have ranged widely over the last five years: $3.34/gallon in 2015, $3.89 in 2014, $3.86 in 2013, $3.70 in 2012 and $3.73/gallon in 2011.
“As air temperatures across the country rise to sweltering levels, gas prices have continued to cool,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “Not only are gas prices nationally at their lowest level of the summer, but they have continued to decline as the glut of oil and refined products has persisted. Almost every state saw a decline in gasoline prices versus last week, thanks to crude oil prices approaching their lowest level of the summer.”
Areas nearby Modesto and their current gas price climate: Stockton - $2.69/gallon, down 2.5 cents per gallon from last week’s $2.71; Oakland - $2.79, down 4.7 cents from last week’s $2.84; San Jose - $2.82, down 4.8 cents per gallon from last week’s $2.86/gallon.
“I foresee that excluding a major hurricane or other disruption, we are very likely to see many more states with average prices falling under $2 per gallon by Halloween. Truth be told, however, that really isn’t a far stretch considering two out of five stations nationally and 11 states are already there,” DeHaan added.
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.