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Pump Prices Below Last Year’s Levels

Continuing the downward trend of the past few weeks, average gasoline prices in Modesto have fallen 29.5 cents per gallon in the last week, averaging $4.44/gallon on Dec. 5, according to GasBuddy’s survey of 201 stations in Modesto. Prices in Modesto are 71.5 cents per gallon lower than a month ago and stand 10.0 cents per gallon lower than a year ago. The national average price of diesel has fallen 13.6 cents in the last week and stands at $5.06 per gallon.

According to GasBuddy price reports, the cheapest station in Modesto was priced at $3.69/gallon while the most expensive was $5.49, a difference of $1.80/gallon. The lowest price in the state on Dec. 5 was $3.35 while the highest was $6.89, a difference of $3.54/gallon.

“For the first time in 670 days, the national average price of gasoline has fallen below its year-ago level, dropping for the fourth straight week to its lowest level since January,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Every state has again seen average gasoline prices drop in the last week, and it remains very possible the national average could fall under $3 per gallon by Christmas. There has also been a drop in diesel prices, which this week will fall back under $5 per gallon, and could soon thereafter fall to their lowest level since March.”

The national average price of gasoline has fallen 15.8 cents per gallon in the last week, averaging $3.36/gallon. The national average is down 43.0 cents per gallon from a month 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 - $4.36/gallon, down 33.1 cents from last week’s $4.69; Oakland - $4.62, down 30.4 cents from $4.92; and San Jose - $4.72/gallon, down 23.4 cents per gallon from last week’s $4.96/gallon.

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.