Average retail gasoline prices in Modesto have fallen 1.9 cents per gallon in the past week, averaging $2.55/gallon Sunday, according to GasBuddy’s daily survey of 201 gas outlets in Modesto. This compares with the national average that has fallen 1.1 cents per gallon in the last week to $2.18/gallon, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Modesto during the past week, prices Sunday were 57.2 cents per gallon lower than the same day one year ago and are 7.6 cents per gallon lower than a month ago. The national average has decreased 10.9 cents per gallon during the last month and stands 79.0 cents per gallon lower than this day one year ago.
“The gas price slide across much of the nation has continued for the third straight week,” said Will Speer, GasBuddy’s senior petroleum analyst for the Midcontinent and Southwest. “Planned fall refinery maintenance had put the Midwest in the spotlight as the region hardest hit with refinery rate reductions, but as we reach November, refinery maintenance projects are beginning to wrap up as evident in EIA’s weekly report, which saw refinery utilization rates improve. Improving refinery rates paired with WTI-crude trading steadily around the $46/barrel range will keep downward pressure on gas prices through November.”
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.