Prices Show Decline At Local Pumps

Average gasoline prices in Modesto have fallen 15.6 cents per gallon in the last week, averaging $5.38/gallon, according to GasBuddy’s survey of 201 stations in Modesto. Prices in Modesto are 75.6 cents per gallon lower than a month ago and stood $1.13/gallon higher than a year ago. The national average price of diesel has declined 14.8 cents in the last week and stands at $5.27 per gallon.

According to GasBuddy price reports, the cheapest station in Modesto was priced at $4.89/gallon on July 31 while the most expensive was $6.55, a difference of $1.66/gallon. The lowest price in the state July 31 was $4.19 while the highest was $7.39, a difference of $3.20/gallon.

The national average price of gasoline has fallen 15.9 cents per gallon in the last week, averaging $4.17/gallon. The national average is down 65.5 cents per gallon from a month ago and stands $1.02/gallon higher than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

Neighboring areas and their current gas prices include: Stockton – $5.47/gallon, down 14.0 cents per gallon from last week’s $5.61; Oakland – $5.59, down 15.1 cents from $5.74/gallon; and San Jose – $5.61, down 11.9 cents per gallon from last week’s $5.72/gallon.

“We continue to see average gas prices falling in every state, with the national average down for the seventh straight week. Even better, nearly 20 states have also seen their average decline to $3.99 or less, with over 70,000 stations now at that level or below,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “The outlook is for a continued drop in most areas, however, some supply tightness in areas of the Northeastern US could push prices up slightly until inventories rise, or imports do. For now, Americans are seeing prices nearly 90 cents lower than their mid-June peak and are spending close to $330 million less on gasoline every day as a result. As long as oil prices hold at these levels or lower, we’ll see another decline in most areas this week.”

GasBuddy is the authoritative voice for gas prices and the only source for station-level data. GasBuddy’s survey updates 288 times every day from the most diverse list of sources covering nearly 150,000 stations nationwide, the most comprehensive and up-to-date in the country. GasBuddy data is accessible at http://prices.GasBuddy.com.

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