Average retail gasoline prices in Modesto have risen 20.2 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 12.6 cents per gallon in the last week to $2.17/gallon, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Modesto during the past week, prices Sunday were 98.6 cents per gallon lower than the same day one year ago and are 0.5 cents per gallon lower than a month ago. The national average has increased 1.7 cents per gallon during the last month and stands 110.7 cents per gallon lower than this day one year ago.
“This past week gasoline prices saw the largest weekly increase since July, 2013. While the pace of increases will slow in the week ahead, we’re looking at continued gas price increases over the next few weeks. Oil prices have risen, contributing to the higher prices, but also worrisome are the refinery strikes initiated over the last week that have oil companies scrambling to keep refineries online,” said Patrick DeHaan, senior petroleum analyst with GasBuddy. “While the strikes are not currently a contributor to higher gasoline prices, should there come a time when the strikes cause less production of refined fuels, motorists can expect spikes. But while gasoline prices have rebounded, diesel consumers have not seen the massive spikes that their gasoline counterparts have. In fact, diesel prices will likely continue to slowly drift lower.”
In the last week, the percentage of gas stations selling under $2/gallon has shrunk by a large margin: a week ago, more than half of all gas stations were under $2.00/gallon, but now just 27 percent are selling under $2/gallon. Similarly, the number of stations charging over $2.25/gallon has risen from 17 percent a week ago to 31 percent currently.
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.