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Prices At Area Pumps Drop

The region continues to see a slight downward trend in prices at the pump.

Average gasoline prices in Modesto have fallen 5.9 cents per gallon in the last week, averaging $4.97/gallon on Nov. 21, according to GasBuddy’s survey of 201 stations in Modesto. Prices in Modesto are 73.6 cents per gallon lower than a month ago and stand 39.5 cents per gallon higher than a year ago. The national average price of diesel has declined 6.7 cents in the last week and stands at $5.28 per gallon.

According to GasBuddy price reports, the cheapest station in Modesto was priced at $4.49/gallon while the most expensive was $5.79, a difference of $1.30/gallon. The lowest price in the state on Nov. 21 was $3.79 while the highest was $7.48, a difference of $3.69/gallon.

The national average price of gasoline has fallen 11.9 cents per gallon in the last week, averaging $3.64/gallon. The national average is down 16.4 cents per gallon from a month ago and stands 24.5 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.

Neighboring areas and their current gas prices include: Stockton - $4.99/gallon, down 4.6 cents from last week’s $5.03; Oakland - $5.17, down 16.7 cents from $5.34; and San Jose - $5.23, down 18.5 cents per gallon from last week’s $5.41/gallon.

“What an incredible turnaround in the last week. While a decline was expected in more states than last week, I didn’t expect every single state to hop on the bandwagon so quickly. But, it’s terrific news … with tens of thousands of stations under $3 per gallon, and thousands more to join in the next few weeks, barring a dramatic turnaround,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Everyone will be seeing relief at the pump this week, with even more substantial declines on the way as oil prices plummeted last week to briefly trade under $80 per barrel. It’s not impossible that if oil markets hold here, we could see a national average of $2.99 around Christmas, certainly the gift that every motorist is hoping for.”

GasBuddy is the authoritative voice for gas prices and the only source for station-level data. 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.