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National Gas Price Falls To Well Under $2/Gallon
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Average retail gasoline prices in Modesto have fallen 6.8 cents per gallon in the past week, averaging $2.05/gallon Sunday, Feb. 14 according to GasBuddy’s daily survey of 201 gas outlets in Modesto. This compares with the national average that has fallen 3.9 cents per gallon in the last week to $1.69/gallon, according to gasoline price website

Including the change in gas prices in Modesto during the past week, prices Sunday were 57.0 cents per gallon lower than the same day one year ago and are 44.0 cents per gallon lower than a month ago. The national average has decreased 23.0 cents per gallon during the last month and stands 55.5 cents per gallon lower than this day one year ago. According to GasBuddy historical data, gasoline prices on Feb. 15 in Modesto have ranged widely over the last five years: $2.62/gallon in 2015, $3.50 in 2014, $3.89 in 2013, $3.78 in 2012 and $3.42/gallon in 2011.

“We are mid-February and 45 out of 50 states have a state gas average below $2 and the national average is at a multi-year low. Sadly, these incredibly low gas prices won’t be here forever, as refineries talk of production cuts with crude oil at a 13 year low,” said Jeff Pelton, a senior petroleum analyst. “Additionally, their Spring turnarounds and the changeover to summer spec gasoline also loom ominously on the horizon. The sooner the refineries can complete their maintenance and start producing gasoline again the better for drivers everywhere.”

Areas nearby Modesto and their current gas price climate show the following prices: Stockton - $2.16/gallon, down 6.7 cents per gallon from last week’s $2.22; Oakland - $2.34, down 6.4 cents per gallon from last week’s $2.40; and San Jose - $2.34, down 6.4 cents per gallon from last week’s $2.40/gallon.