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October 9, 2012

Gas prices stabilize in Modesto

Could it be that gas prices actually are about to fall? For the first time in three days, gasoline prices did not go up at most stations in the Modesto area.

Could it be that gas prices actually are about to fall?

For the first time in three days, gasoline prices did not go up at most stations in the Modesto area.

AAA said the average price for a gallon of regular gasoline in California hit $4.671 today — the highest price in the nation and an all-time high for the Golden State. Analysts said the spike has been driven by refinery disruptions and corrosion issues in an important pipeline.

Though that is the third day of consecutive price hikes, it's less than a half-cent above Monday's average. Previous overnight hikes have been as much as 50 cents per gallon.

And there are signs that the price drop expected after Gov. Brown ordered regulators to allow the sale of winter blend gas could be nearing.

Gas prices seem to have at least stabilized in the Northern San Joaquin Valley, with several stations offering the same $4.37 per gallon they had Monday, according to ModestoGasPrices.com. And this morning, gas can be found for $4.29 a gallon at the Modesto Truck Plaza, South Seventh Street and Hatch Road.

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