State Gas Prices Higher Than National Average
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.”