Average gasoline prices in Modesto have fallen 5.6 cents per gallon in the last week, averaging $4.35/gallon as of Jan. 31, according to GasBuddy’s survey of 201 stations in Modesto. Prices in Modesto are 11.5 cents per gallon lower than a month ago and stand $1.13/gallon higher than a year ago.
According to GasBuddy price reports, the cheapest station in Modesto was priced at $3.92/gallon on Monday, Jan. 31 while the most expensive was $4.89, a difference of 97.0 cents per gallon. The lowest price in the state on Jan. 31 was $3.69 while the highest was $5.89, a difference of $2.20/gallon.
The national average price of gasoline has risen 2.9 cents per gallon in the last week, averaging $3.34/gallon. The national average is up 6.8 cents per gallon from a month ago and stands 92.8 cents per gallon higher 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.
“The price of oil pushed into territory unseen in over seven years as WTI crude hit $88 per barrel, which continues to drag gasoline prices higher. With continued concerns over geopolitical tensions and crude oil supply, the small yet noticeable increases are likely to continue,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “The only factor keeping gas prices from rising more substantially is that gasoline demand remains low as winter storms keep motorists closer to home. Once the weather starts to turn and warm gradually, we’ll lose the only restraint to larger price increases.”
Neighboring areas and their current gas prices include: Stockton - $4.43/gallon, down 3.4 cents per gallon from last week’s $4.47; Oakland - $4.67, down 2.9 cents from last week’s $4.70; and San Jose - $4.71, unchanged from last week’s $4.71/gallon.
GasBuddy is the authoritative voice for gas prices and the only source for station-level data spanning nearly two decades. 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. GasBuddy data is accessible at http://prices.GasBuddy.com.