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Drivers Seeing Price Hike At Gas Pumps

Average gasoline prices in Modesto have risen 11.2 cents per gallon in the last week, averaging $4.52/gallon on Monday, June 5, according to GasBuddy’s survey of 201 stations in Modesto. Prices in Modesto are 4.9 cents per gallon higher than a month ago and stand 164.9 cents per gallon lower than a year ago. The national average price of diesel has fallen 3.4 cents in the last week and stands at $3.88 per gallon.

According to GasBuddy price reports, the cheapest station in Modesto was priced at $4.07/gallon while the most expensive was $5.19, a difference of $1.12/gallon. The lowest price in the state as of June 5 was $3.89/gallon while the highest was $6.77, a difference of $2.88/gallon.

The national average price of gasoline has fallen 3.9 cents per gallon in the last week, averaging $3.51/gallon. The national average is down 1.7 cents per gallon from a month ago and stands 134.5 cents per gallon lower 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.

Historical gasoline prices in Modesto showed that, just a year ago, the average price was $6.17 per gallon on June 5, 2022 while the national average was $4.85 per gallon. The lowest price measured in Modesto going back 10 years was $2.70 per gallon in 2016; the national average on June 5 that year was $2.36 per gallon.

Neighboring areas and their current gas prices include: Stockton - $4.47/gallon, up 3.5 cents from last week’s $4.44; Oakland - $4.75, up 2.0 cents per gallon from $4.73; and San Jose - $4.72/gallon, up 2.4 cents per gallon from last week’s $4.70/gallon.

“While the national average drifted lower last week as oil prices cooled off, the drop may be temporary. OPEC+ agreed Sunday to additional production cuts, while Saudi Arabia is going above and beyond and cutting July production. As a result, oil prices are likely to see upward pressure as global supplies, which have remained tight, promise to become even tighter as a result,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “How long any rise in gas prices lasts is up in the air, but I do not yet believe motorists need to be worried. Any rise in average prices should be fairly small, and we’re still extremely unlikely to make a run at record prices anytime soon.”

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.