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Motorists Paying More At Regional Gas Pumps

Motorists Paying More At Regional Gas Pumps


POSTED December 14, 2016 9:43 a.m.
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Average retail gasoline prices in Modesto have risen 4.8 cents per gallon in the past week, averaging $2.44/gallon Sunday, according to GasBuddy’s daily survey of 201 gas outlets in Modesto. This compares with the national average that has increased 2.9 cents per gallon in the last week to $2.21/gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Modesto during the past week, prices Sunday were 3.0 cents per gallon higher than the same day one year ago and are 5.7 cents per gallon lower than a month ago. The national average has increased 4.7 cents per gallon during the last month and stands 20.0 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on Dec. 12 in Modesto have ranged widely over the last five years: $2.41/gallon in 2015, $2.74 in 2014, $3.42 in 2013, $3.38 in 2012 and $3.48/gallon in 2011.

“Retail gasoline prices across the country appear to have hit a plateau and that’s not surprising given the mix of potentially upward and downward forces working simultaneously on crude oil prices,” said Gregg Laskoski, senior petroleum analyst for GasBuddy. “On one hand we have the news that OPEC issued over the weekend; that a group of non-OPEC oil producers led by Russia have agreed to collectively cut 2017 production by 600,000 barrels ... but on the other hand the promises for next year do little to change the robust global supply we have today.”

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.

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