It was a week with another double digit drop at gas pumps around the region.
Average gasoline prices in Modesto have fallen 11.9 cents per gallon in the last week, averaging $3.90/gallon as of Dec. 15, according to GasBuddy’s survey of 201 stations in Modesto. Prices in Modesto are 39.4 cents per gallon lower than a month ago and stand 2.2 cents per gallon higher than a year ago.
According to GasBuddy price reports, the cheapest station in Modesto was priced at $3.49 while the most expensive was $4.69, a difference of $1.20/gallon. Across the state, the lowest price was $2.69 while the highest was $7.99, a difference of $5.30/gallon.
The national average price of gasoline has fallen 4.5 cents per gallon in the last week, averaging $2.85/gallon on Dec. 15. The national average is down 22.0 cents per gallon from a month ago and stands 12.6 cents per gallon lower 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.
Neighboring areas and their current gas prices include: Stockton - $3.88/gallon, down 4.7 cents from last week’s $3.93; Oakland - $4.19, down 11.1 cents from $4.30; and San Jose - $4.13/gallon, down 10.9 cents from last week’s $4.24/gallon.
“For the third straight week, the national average price of gasoline has fallen, once again setting a new multi-year low,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Just ahead of Christmas, the national average stands at its lowest level since March 12, 2021, delivering weekly savings of nearly $400 million compared to this time last year. Gas prices are now lower in a majority of states, and the good news is that the downward trend may continue into the closing innings of 2025, with further declines likely across much of the country. That’s being driven by refineries wrapping up maintenance and boosting output to near summer highs, increasing fuel supply, while additional oil production from OPEC has pressured crude prices lower as well.”
Historical gasoline prices in Modesto and the national average going back 10 years show the lowest Modesto price on Dec. 15 was $2.41 per gallon in 2015 while the highest Dec. 15 price was $4.53 in 2021. Nationally, highest U.S. average price of $3.32 per gallon was on Dec. 15, 2021 and the lowest of $2.01 per gallon was in 2015.