Average retail gasoline prices in Modesto have risen 1.8 cents per gallon in the past week, averaging $2.44/gallon on Sunday, according to GasBuddy’s daily survey of 201 gas outlets in Modesto. This compares with the national average that has increased 3.7 cents per gallon in the last week to $2.16/gallon, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Modesto during the past week, prices Sunday were 65.8 cents per gallon lower than the same day one year ago and are 15.8 cents per gallon lower than a month ago. The national average has decreased 0.5 cents per gallon during the last month and stands 45.5 cents per gallon lower than this day one year ago.
According to GasBuddy historical data, gasoline prices on Aug. 22 in Modesto have ranged widely over the last five years: $3.09/gallon in 2015, $3.76 in 2014, $3.66 in 2013, $4.07 in 2012 and $3.65/gallon in 2011.
Areas nearby Modesto and their current gas price climate include: Stockton - $2.55/gallon, up 1.7 cents per gallon from last week’s $2.53; Oakland - $2.66, up 3.2 cents per gallon from last week’s $2.63; and San Jose - $2.70, up 3.0 cents from last week’s $2.67/gallon.
“With the benchmark WTI crude climbing more than $8 per barrel since the beginning of the month to $48 per barrel and Brent above $50, we should not be surprised to see the average price of gas in many areas nearly 5 cents higher than it was a week ago,” said Gregg Laskoski, senior petroleum analyst for GasBuddy. “While wholesale gasoline prices reflect the run-up for crude, it may be short-lived since the clock is ticking on the rally for retail prices with just two weeks left before the Labor Day weekend and summer’s official end. So consumers should be prepared for modest increases this week that may actually taper off as we approach the holiday weekend.”
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.