Average gasoline prices in Modesto have risen 3.5 cents per gallon in the last week, averaging $4.60/gallon as of July 10, according to GasBuddy’s survey of 201 stations in Modesto. Prices in Modesto are 7.1 cents per gallon lower than a month ago and stand 131.2 cents per gallon lower than a year ago. The national average price of diesel has fallen 1.3 cents in the last week and stands at $3.79 per gallon.
According to GasBuddy price reports, the cheapest station in Modesto was priced at $4.09/gallon while the most expensive was $5.19, a difference of $1.10/gallon. The lowest price in the state was $3.59 while the highest was $6.77, a difference of $3.18/gallon.
The national average price of gasoline is unchanged in the last week, averaging $3.50/gallon on Monday, July 10. The national average is down 8.4 cents per gallon from a month ago and stands 116.7 cents per gallon lower 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 - $4.56/gallon, up 2.5 cents per gallon from $4.53; Oakland - $4.76, up 1 cent per gallon from $4.75; and San Jose - $4.75/gallon, up 3.9 cents from last week’s $4.71/gallon.
Historical gasoline prices in Modesto and the national average going back 10 years show that the highest prices were recorded on July 10, 2022 when the price in Modesto averaged $5.91 per gallon and the U.S. average was $4.66 per gallon. The lowest price recorded in that 10-year period was on July 10, 2016 for Modesto, at $2.66 per gallon and, for the U.S. average, the lowest was $2.20 per gallon on July 10, 2020.
“After declining going into July 4, average gasoline prices have struggled to find much momentum in either direction as the price of crude oil has continued to bounce around, digesting offsetting news on both sides of the scale: supply, which OPEC+ continues to try and tighten, and weak global demand as monetary policy restrains growth,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “I don’t see much chance of a major break out of the tight range we’ve held since April, but there is rising risk for hurricane season and potential disruptions as major forecaster Colorado State University released its third forecast for 2023 hurricane season, showing a sharp uptick in the number of expected major hurricanes. Heading into the prime of summer gasoline demand, any disruptions, whether storms or unexpected outages and what might be a small challenge outside of the summer driving season, could be a larger problem, so there is some risk to gas prices going into the second half of summer.”
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.
