Summer’s End Sees Hike In Gas Prices
Gasoline prices in Modesto have risen 2.8 cents per gallon in the past week, averaging $3.37/gallon Monday, according to GasBuddy’s daily survey of 201 stations in Modesto. This compares with the national average that has fallen 1.4 cents per gallon versus last week to $2.82/ gallon, according to GasBuddy.
Average gasoline prices on Sept. 4 in Modesto have ranged widely over the last five years: $2.96/ gallon in 2017, $2.50 in 2016, $2.91 in 2015, $3.70 in 2014 and $3.67/gallon in 2013.
Including the change locally during the past week, prices Monday were 41.0 cents per gallon higher than a year ago and are 4.1 cents per gallon lower than a month ago. The national average has dropped 4.4 cents per gallon during the last month and stands 18.3 cents per gallon higher than a year ago.
Areas near Modesto and their current gas price climate include: Stockton $3.44/gallon, unchanged from last week’s $3.44/ gallon; Oakland - $3.65, up 1 cent from $3.64/ gallon; San Jose - $3.63, down 1.3 cents per gallon from last week’s $3.64.
“We’ve closed the door on the most expensive summer at the pump since 2014, finishing the period from Memorial Day to Labor Day with an average of $2.87 per gallon, a full 55 cents higher than last summer, but still 71 cents per gallon cheaper than 2014,” said Patrick DeHaan, head of petroleum analysis for GasBuddy.
“Much of the blame for the summer’s higher gas prices can be blamed on OPEC’s long-term decision to cut oil production to better balance supply and demand, pushing prices higher.”
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 crowd-sourced 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 realtime 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.