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Motorists Continue Seeing Pump Prices On The Rise
gas prices

Average gasoline prices in Modesto have risen 16.7 cents per gallon in the last week, averaging $6.14/gallon as of Oct. 10, according to GasBuddy’s survey of 201 stations in Modesto. Prices in Modesto are 97.1 cents per gallon higher than a month ago and stand $1.88/gallon higher than a year ago. The national average price of diesel has increased 18.0 cents in the last week and stands at $5.04 per gallon.

According to GasBuddy price reports, the cheapest station in Modesto was priced at $5.69/gallon while the most expensive was $6.89, a difference of $1.20/gallon. The lowest price in the state was $4.89 while the highest was $7.99/gallon, a difference of $3.10/gallon.

The national average price of gasoline has risen 13.8 cents per gallon in the last week, averaging $3.92/gallon on Oct. 10. The national average is up 22.5 cents per gallon from a month ago and stands 67.0 cents per gallon higher than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

Neighboring areas and their current gas prices include: Stockton - $6.17/gallon, up 19.7 cents from last week’s $5.98; Oakland - $6.39, up 15.0 cents per gallon from $6.24; and San Jose - $6.37, up 16.7 cents per gallon from last week’s $6.20/gallon.

“With OPEC deciding to cut oil production by two million barrels a day, we’ve seen oil prices surge 20 percent, which is the primary factor in the national average rising for the third straight week,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Some of the refinery snags that have caused prices to surge in the West and Great Lakes appear to be improving, with prices in those two regions likely to inch down, even with OPEC’s decision, as the drop in wholesale prices has offset the rise due to the production cut. But where gas prices didn’t jump because of refinery issues, they will rise a total of 10-30 cents due to oil’s rise, and some areas are certainly seeing the jump already. For now, I don’t expect much improvement in prices for most of the country, with California and the Great Lakes as the exception, with downdrafts likely in the days and weeks ahead.”

GasBuddy is the authoritative voice for gas prices and the only source for station-level data. GasBuddy’s survey updates 288 times every day from the most diverse list of sources covering nearly 150,000 stations nationwide, the most comprehensive and up-to-date in the country. GasBuddy data is accessible at http://prices.GasBuddy.com.