Average retail gasoline prices in Modesto have fallen 5.5 cents per gallon in the past week, averaging $2.88/gallon Sunday, according to GasBuddy’s daily survey of 201 gas outlets in Modesto. This compares with the national average that has increased 0.5 cents per gallon in the last week to $2.39/gallon, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Modesto during the past week, prices Sunday were 103.4 cents per gallon lower than the same day one year ago and are 37.8 cents per gallon lower than a month ago. The national average has decreased 4.9 cents per gallon during the last month and stands 124.6 cents per gallon lower than this day one year ago.
“Amidst all the talk about gasoline prices, I think there’s a few major points no one is remembering,” said Patrick DeHaan, GasBuddy senior petroleum analyst. “And that is the climate that is gasoline prices – how today’s air is crisp, blue and unlike the past five years when clouds made it impossible to feel optimistic about hitting the road for summer.”
GasBuddy last week forecast that summertime gasoline prices would be at their lowest since 2005. Though it may be a close call, DeHaan said it’s not always about the numbers alone.
“Sure, gasoline prices in 2009 may be close to what they are now, but who was talking about hitting the road when your job was on the line? Who cared about how low gas prices were when you weren’t sure if you could even pay all of your bills? This is the first time since the 2005 that we’ve seen such low gasoline prices combined with a strong economy, making it a great time to think about hitting the road this summer,” DeHaan said.
According to GasBuddy, almost a third of gas stations are priced under $2.25/gallon today while 80 percent are under $2.50/gallon and 94 percent under $3/gallon. The pump landscape a year ago was far different: no stations reporting were under $2.25, $2.50 or even under $3/gallon. In fact, one year ago, 99.1 percent of stations were selling over $3.25/gallon.
“We’ve come a long way, and we won’t be looking back at that for quite some time,” DeHaan predicted.
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.