State Gas Prices Higher Than Na­tional Av­er­age

Riverbank News - - NEWS -

Av­er­age re­tail gaso­line prices in Modesto have fallen 4.7 cents per gal­lon in the past week, av­er­ag­ing $2.78/gal­lon Sun­day, ac­cord­ing to GasBuddy’s daily sur­vey of 201 gas out­lets in Modesto. This com­pares with the na­tional av­er­age that has in­creased 0.6 cents per gal­lon in the last week to $2.45/gal­lon, ac­cord­ing to gaso­line price web­site GasBuddy.com.

In­clud­ing the change in gas prices in Modesto dur­ing the past week, prices Sun­day were 20.2 cents per gal­lon higher than the same day one year ago and are 13.7 cents per gal­lon lower than a month ago. The na­tional av­er­age has de­creased 8.9 cents per gal­lon dur­ing the last month and stands 25.0 cents per gal­lon higher than this day one year ago.

Ac­cord­ing to GasBuddy his­tor­i­cal data, gaso- line prices on Oct. 30 in Modesto have ranged widely over the last five years: $2.58/gal­lon in 2016, $2.58 in 2015, $3.17 in 2014, $3.56 in 2013 and $3.97/gal­lon in 2012.

Ar­eas near Modesto and their cur­rent gas price cli­mate: Stock­ton - $2.84/gal­lon, down 7.2 cents per gal­lon from last week’s $2.91; Oak­land - $3.06, down 1.6 cents per gal­lon from $3.07; and San Jose - $3.01, down 1.3 cents from last week’s $3.02/gal­lon.

“Oil prices have re- bounded in the last week, led higher by geopo­lit­i­cal ten­sions and de­clin­ing in­ven­to­ries, lead­ing gaso­line prices in some parts of the coun­try to make an un­sea­son­able move higher,” said Patrick DeHaan, head of pe­tro­leum anal­y­sis for GasBuddy. “As re­finer­ies con­tinue au­tumn main­te­nance, we may con­tinue to see gaso­line in­ven­to­ries un­der pres­sure, with a mixed bag of in­creases and de­creases in the weeks ahead un­til the con­clu­sion of such main­te­nance.”

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