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Brace For Surge In Pump Prices

Brace For Surge In Pump Prices

Brace For Surge In Pump Prices


POSTED May 16, 2018 10:18 a.m.
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Average retail gasoline prices in Modesto have risen 7.1 cents per gallon in the past week, averaging $3.53/gallon Monday, according to GasBuddy’s daily survey of 201 gas outlets in Modesto. This compares with the national average that has increased 5.7 cents per gallon in the last week to $2.86/gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Modesto during the past week, prices Monday were 72.3 cents per gallon higher than the same day one year ago and are 17.8 cents per gallon higher than a month ago. The national average has increased 15.4 cents per gallon during the last month and stands 53.8 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on May 14 in Modesto have ranged widely over the last five years: $2.80/gallon in 2017, $2.63 in 2016, $3.48 in 2015, $4.06 in 2014 and $3.96/gallon in 2013.

Areas near Modesto and their current gas price climate include: Stockton - $3.58/gallon, up 7.3 cents per gallon from last week’s $3.50; Oakland - $3.69, up 4.7 cents; San Jose - $3.70, up 4.2 cents per gallon from last week’s $3.66.

“Gas prices saw among the larger weekly increases since Hurricane Harvey in the last week as oil prices continued to surge, leading to sharply higher prices at the pump,” said Patrick DeHaan, head of petroleum analysis for GasBuddy.

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 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 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.

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