Modesto gas prices have risen one cent per gallon in the past week, averaging $4.27/gallon as of Monday, Oct. 11, according to GasBuddy’s daily survey of 201 stations in Modesto. Gas prices in Modesto are 1.7 cents per gallon higher than a month ago and stand $1.29/gallon higher than a year ago.
According to GasBuddy price reports, the cheapest station in Modesto was priced at $3.85 on Oct. 11 while the most expensive was $4.89, a difference of $1.04/gallon. The lowest price in the state Monday was $3.63 while the highest was $6.39, a difference of $2.76/gallon.
The national average price of gasoline has risen 5.2 cents per gallon in the last week, averaging $3.25/gallon. The national average is up 7.5 cents per gallon from a month ago and stands $1.08/gallon higher than a year ago.
Neighboring areas and their gas prices as of Oct. 11 include: Stockton - $4.26/gallon, down 0.6 cents per gallon from $4.27; Oakland - $4.50, up 2.5 cents per gallon from $4.48; and San Jose - $4.47/gallon, up 0.3 cents from last week’s $4.47/gallon.
“Last week saw oil prices advance to their highest in seven years, with a barrel of West Texas Intermediate crude oil surpassing the critical $80 per barrel level. The nation’s gas prices were also pushed to their highest since 2014, all on OPEC’s decision not to raise production more than it already agreed to in July,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “The OPEC decision caused an immediate reaction in oil prices, and amidst what is turning into a global energy crunch, motorists are now spending over $400 million more on gasoline every single day than they were just a year ago. The problems continue to relate to a surge in demand as the global economy recovers, combined with deep cuts to production from early in the pandemic. If Americans can’t slow their appetite for fuels, we’ve got no place for prices to go but up.”
GasBuddy is the authoritative voice for gas prices and the only source for station-level data spanning nearly two decades. 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://FuelInsights.GasBuddy.com.