Average retail gasoline prices in Modesto have risen 3.6 cents per gallon in the past week, averaging $2.80/gallon Sunday, according to GasBuddy’s daily survey of 201 gas outlets in Modesto. This compares with the national average that has fallen 1.3 cents per gallon in the last week to $2.29/gallon, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Modesto during the past week, prices Sunday were 46.6 cents per gallon higher than the same day one year ago and are 16.2 cents per gallon higher than a month ago. The national average has increased 1.5 cents per gallon during the last month and stands 36.1 cents per gallon higher than this day one year ago.
According to GasBuddy historical data, gasoline prices on March 13 in Modesto have ranged widely over the last five years: $2.34/gallon in 2016, $3.26 in 2015, $3.76 in 2014, $3.97 in 2013 and $4.28/gallon in 2012.
Areas near Modesto and their current gas price climate include: Stockton - $2.84/gallon, up 1.8 cents per gallon from last week’s $2.82; Oakland - $3.00, up 1 cent per gallon; San Jose - $3.04, up 2.2 cents per gallon from last week’s $3.02/gallon.
“A sudden plunge in the price of oil is likely to weigh on gas prices, at least temporarily,” said Patrick DeHaan, senior petroleum analyst for GasBuddy.com. “With little warning or expectation, crude oil last week broke out of the rut it had well established, with crude prices falling out of a three-month range of $51-$54 per barrel to $49. Fundamentals of oil have weakened, and with last week’s large 8.2 million barrel rise in crude oil inventories, the market has turned decidedly bearish for now.”
GasBuddy is the technology company changing the way more than 60 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 60 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.