Average gasoline prices in the area have fallen 10.4 cents per gallon in the last week, averaging $5.91/g on Tuesday, according to GasBuddy's survey of 201 stations in the Modesto area, which includes Turlock. Prices in California are 33.7 cents per gallon lower than a month ago and stand $1.76/g higher than a year ago. The national average price of diesel has declined 8.5 cents in the last week and stands at $5.65 per gallon.
Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday that the continued decline comes as crude oil costs also fall.
“Assuming oil prices do not shoot up from here, motorists may see prices drop another 10-20 cents as the oil price cuts continue making their way to street level,” Lundberg said in a statement.
According to GasBuddy price reports, the cheapest station in Turlock on Tuesday was priced at $5.45/g and the average was $5.92/g. In California, the cheapest gas was priced at $4.89/g on Monday while the most expensive was $7.80/g, a difference of $2.91/g.
Nationwide, the highest average price for regular-grade gas was in the San Francisco Bay Area, at $6.14 per gallon. The lowest average was in Baton Rouge, Louisiana, at $4.19 per gallon.
The national average price of gasoline has fallen 12.8 cents per gallon in the last week, averaging $4.66/g on Tuesday. The national average is down 34.4 cents per gallon from a month ago and stands $1.54/g 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:
Modesto- $5.91/g, down 10.4 cents per gallon from last week's $6.01/g.
Stockton- $5.96/g, down 10.8 cents per gallon from last week's $6.07/g.
Fresno- $5.94/g, down 11.9 cents per gallon from last week's $6.06/g.
“The national average has declined for 27 days straight, or four weeks, the longest decline in average gas prices since the pandemic started in 2020. Average gas prices are down nearly 40 cents, with Americans shelling out $140 million less on gasoline every day than they did a month ago," said Patrick De Haan, head of petroleum analysis at GasBuddy. "We may see the trend last a fifth week, as long as oil prices remain cooperative and don't surge beyond $105 per barrel, and as long as refinery production of gasoline remains strong. But we're not completely out of the woods yet - we could also see a sharp reversal in the decline. There remains risk of a spike in prices that could send us to new record levels in August, should any disruptions occur. It could be a wild ride, but for now, the plummet at the pump shall continue."
— Associated Press contributed to this report.