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Nationwide Pump Prices Seeing Downward Trend
California - Outline and Flag - Solid

Average retail gasoline prices in Modesto have risen 2.3 cents per gallon in the past week, averaging $2.64/gallon Sunday, according to GasBuddy’s daily survey of 201 gas outlets in Modesto. This compares with the national average that has fallen 2.5 cents per gallon in the last week to $2.34/gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Modesto during the past week, prices Sunday were 16.6 cents per gallon higher than the same day one year ago and are 18.1 cents per gallon higher than a month ago. The national average has increased 10.3 cents per gallon during the last month and stands 43.0 cents per gallon higher than this day one year ago.

“For the first time since November, the national average price for gasoline has fallen over the last week, helped by weak demand and rising gasoline inventories,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “This downward trend is evident in over two-thirds of states but may take additional time to materialize in others, yet is a familiar pattern for late winter as refiners build inventories prior to the late-February start of refinery maintenance season and thanks to the year’s weakest demand occurring over the next four weeks.”

According to GasBuddy historical data, gasoline prices on Jan. 16 in Modesto have ranged widely over the last five years: $2.47/gallon in 2016, $2.36 in 2015, $3.47 in 2014, $3.48 in 2013 and $3.62/gallon in 2012.

Areas near Modesto and their current gas price climate include: Stockton - $2.67/gallon, up 0.6 cents per gallon from last week’s $2.66; Oakland - $2.80, up 0.6 cents from last week’s $2.80; and San Jose - $2.82/gallon, up 1.1 cents per gallon from last week’s $2.81.

Nationwide, however, motorists shouldn’t expect the downward trend to last long. After the sweetness of Valentine’s Day roses and chocolates is gone, they will be in store for a jump at the pump as maintenance season begins and the long transition to summer gasoline becomes a pinch point, leading to gas prices that will mostly trend higher for two to three months.

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.