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State, National Gas Prices Still Declining

State, National Gas Prices Still Declining


POSTED October 11, 2017 10:40 a.m.

Average retail gasoline prices in Modesto have fallen 2.7 cents per gallon in the past week, averaging $2.90/gallon Sunday, according to GasBuddy’s daily survey of 201 gas outlets in Modesto. This compares with the national average that has fallen 6.0 cents per gallon in the last week to $2.47/gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Modesto during the past week, prices Sunday were 27.6 cents per gallon higher than the same day one year ago and are 7.7 cents per gallon lower than a month ago. The national average has decreased 19.3 cents per gallon during the last month and stands 21.4 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on Oct. 9 in Modesto have ranged widely over the last five years: $2.63/gallon in 2016, $2.61 in 2015, $3.49 in 2014, $3.71 in 2013 and $4.56/gallon in 2012.

Areas near Modesto and their current gas price climate: Stockton - $2.95/gallon, down 5.5 cents per gallon from last week’s $3.00/gallon; Oakland - $3.09, down 5.1 cents from last week’s $3.14; and San Jose - $3.07, down 2.4 cents per gallon from last week’s $3.09/gallon.

“Gas prices have today entered their fourth straight week of declining nationally, a trend unlikely to be interrupted by Hurricane Nate over this past weekend,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “Gasoline supply has continued to improve and as temperatures begin to feel more fall like, demand for fuel will continue to decline. Hurricane Nate, a fast moving storm, did little to disrupt the flow of fuel to market while having a larger impact on oil rigs. However, the nation continues to be awash in crude oil, so the storm mattered little to oil prices.”

For LIVE fuel price averages, visit http://FuelInsights.GasBuddy.com.

 

GasBuddy is the technology company changing the way more than 70 million consumers find, purchase, and save money on gasoline. Founded in 2000, the original GasBuddy website was a pioneer in crowd-sourced information, leveraging technology, big data, and a passionate community that now connects more than 70 million users with real-time, accurate fuel pricing information as well as reliable reviews of gas station amenities and services. The app and website have the most accurate and real-time fuel prices at over 140,000 unique stations in the United States, Canada, and Australia and is the most comprehensive money-saving companion while on the road. GasBuddy is available on all mobile platforms. For more information, visit www.gasbuddy.com.

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