Average gasoline prices in Modesto have fallen 5.2 cents per gallon in the last week, averaging $3.99/gallon as of Monday, Jan. 23, according to GasBuddy’s survey of 201 stations in Modesto. Prices in Modesto are 3.6 cents per gallon higher than a month ago and stand 41.9 cents per gallon lower than a year ago. The national average price of diesel has risen 2.6 cents in the last week and stands at $4.60 per gallon.
According to GasBuddy price reports, the cheapest station in Modesto was priced at $3.69/gallon while the most expensive was $4.89, a difference of $1.20/gallon. The lowest price in the state was $3.18 while the highest was $7.48, a difference of $4.30/gallon.
The national average price of gasoline has risen 11.3 cents per gallon in the last week, averaging $3.39/gallon on Jan. 23. The national average is up 30.2 cents per gallon from a month ago and stands 7.3 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 - $4.02/gallon, down 3.1 cents per gallon from last week’s $4.05; Oakland - $4.36, up 3.4 cents from $4.32; and San Jose - $4.34/gallon, up 1.2 cents per gallon from last week’s $4.33/gallon.
“Gasoline prices continued their upward trajectory last week as oil prices pulled them higher across the majority of the country, and continued refinery challenges kept supply of gasoline from rising more substantially,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Macroeconomic factors have continued to weigh on oil and refined products, as strong demand in China hasn’t been slowed much by a surge in new COVID cases. In addition, releases of crude oil from the Strategic Petroleum Reserve have wrapped up. Concerns are increasing that without additional oil, supply will tighten in the weeks ahead, especially as the nation starts to move away from softer demand in the height of winter. Moving forward, it doesn’t look good for motorists, with prices likely to continue accelerating.”
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.