
Prices Dropping At Pumps

Modesto gas prices have fallen 7.2 cents per gallon in the past week, averaging $3.52/gallon on Dec. 9, according to GasBuddy’s daily survey of 201 stations. Gas prices in Modesto are 34.1 cents per gallon lower than a month ago and stand 28.5 cents per gallon higher than a year ago.

According to GasBuddy price reports, the cheapest station in Modesto is priced at $3.19 while the most expensive is $4.19, a difference of a dollar per gallon. The lowest price in the state on Dec. 9 was $2.59/gallon while the highest was $4.99, a difference of $2.40/gallon. The cheapest price in the entire country stood at $1.78 while the most expensive was $4.99, a difference of $3.21/gallon.

The national average price of gasoline has fallen 3.0 cents per gallon in the last week, averaging $2.57 on Dec. 9. The national average is down 6.1 cents per gallon from a month ago and stands 15.9 cents per gallon higher than a year ago.

Neighboring areas and their current gas prices include: Stockton - $3.53/gallon, down 11.7 cents per gallon from last week’s $3.65; Oakland - $3.73, down 8.6 cents from $3.81; and San Jose - $3.64/gallon, down 9.3 cents from last week’s $3.73/gallon.

“A majority of states saw gas prices drift lower in the last week as government data showed a large rise in gasoline inventories, perhaps offsetting OPEC’s production cut,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Refineries, meanwhile, have ramped up output as the end of the year looms, which could also offset any rise in oil prices. Refiners draw down oil inventories ahead of the turn of the year to avoid taxes, which could help lead to increases in refined product inventories and drive prices down.”
