Nationwide Prices Rise Slightly At Gas Pumps
Average retail gasoline prices in Modesto have risen 2.7 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 increased 1.7 cents per gallon in the last week to $2.22/gallon, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Modesto during the past week, prices Sunday were 85.7 cents per gallon lower than the same day one year ago and are 3.9 cents per gallon higher than a month ago. The national average has increased 10.9 cents per gallon during the last month and stands 48.2 cents per gallon lower than this day one year ago.
According to GasBuddy historical data, gasoline prices on May 16 in Modesto have ranged wide- ly over the last five years: $3.49/gallon in 2015, $4.05 in 2014, $3.99 in 2013, $4.28 in 2012 and $4.14 in 2011.
“As the national average for retail gas prices appeared to be headed for a week over week decrease, prices popped back up thanks to a late-week surge by Great Lake states,” said Will Speer, senior petroleum analyst with GasBuddy.com. “While pockets of significant gas price hikes were prevalent, especially in regions such as the Pacific Northwest and Rockies, 22 states actually had prices decrease.
So, as states struggled to agree on the movement of gas prices, the national average barely moved as a result, only increasing a penny per gallon in one week’s time.”
The upcoming Memorial Day holiday marks the kickoff to the summer driving season. Gasoline demand that has already been strong this year will undoubtedly see a huge seasonal increase in demand. This paired with crude prices that continue to show signs of strength are going to keep further pressure on gas prices this summer.
Areas nearby Modesto and their current gas price climate include: Stockton - $2.67/gallon, flat from last week’s $2.67; Oakland - $2.82, up 0.8 cents per gallon from last week’s $2.81; San Jose - $2.84, up 1.8 cents per gallon from last week’s $2.82/gallon.
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.