Holiday May Up Pump Prices
Gasoline prices in Modesto have fallen 3.7 cents per gallon in the past week, averaging $3.52/gallon on June 25, according to GasBuddy’s daily survey of 201 stations in Modesto. This compares with the national average that has fallen 5.3 cents per gallon versus last week to $2.83/ gallon, according to GasBuddy.
Average gasoline prices on June 25 in Modesto have ranged widely over the last five years: $2.84/gallon in 2017, $2.71 in 2016, $3.17 in 2015, $3.96 in 2014 and $3.88/gallon in 2013.
However, prices may soon be on the rise.
“The threat of an escalating trade war with China and others took a back seat to one of the most anticipated OPEC meetings last week: OPEC agreed to increase oil production by just 600,000 barrels a day, well short of expectations amidst a hot global and U.S. economy,” said Patrick DeHaan, head of petroleum analysis at GasBuddy. “Crude oil prices responded by skyrocketing over five percent Friday while refined products, including gasoline, rose two percent. The worry is the rally may continue into this week as motorists prepare for the upcoming July 4 weekend.”
Including the change locally during the past week, prices Monday were 67.8 cents per gallon higher than a year ago and are 7.5 cents per gallon lower than a month ago. The national average has dropped 14.1 cents per gallon during the last month and stands 58.1 cents per gallon higher than a year ago.
Areas near Modesto and their current gas price climate include: Stockton - $3.57/gallon, down 4.4 cents per gallon from last week’s $3.62; Oakland $3.72, down 2.1 cents from $3.74; and San Jose - $3.71, down 2.1 cents from last week’s $3.73/gallon.
For LIVE fuel price averages, visit http://FuelInsights.GasBuddy.com.
GasBuddy is the technology company changing the way more than 75 million consumers find, purchase, and save money on gasoline. Founded in 2000, the original GasBuddy website was a pioneer in crowdsourced information, leveraging technology, big data, and a passionate community that now connects more than 70 million users with real-time, accurate fuel pricing information as well as reliable reviews of gas station amenities and services. The app and website have the most accurate and real-time fuel prices at over 140,000 unique stations in the United States, Canada, and Australia and is the most comprehensive money-saving companion while on the road. GasBuddy is available on all mobile platforms. For more information, visit www.gasbuddy. com.