Gasoline price expert sees a ray of hope in latest survey of Modesto-area prices
The average gasoline price rose once again in Stanislaus County, and the priciest pump hit $4.89 per gallon, an industry analyst said Monday.
The average increased 0.9 cents over the past week to $4.40, GasBuddy said in its Oct. 25 update for regular unleaded. The lowest price was $3.99 in the survey of 201 stations in the county.
The Stanislaus average is up 16 cents from a month ago and $1.38 from this time last year.
GasBuddy surveys nearly 150,000 stations across the United States but does not specify which have the highest and lowest prices in each area.
Prices have risen around the world because of increasing demand and inadequate supply of the crude oil that becomes vehicle fuel.
That upward pull could ease soon because refined fuel prices have “largely caught up” with the cost of crude oil, said Patrick De Haan, head of petroleum analysis for GasBuddy, in a news release Monday.
“This isn’t an all clear for the future, however, as oil prices could rise again at any time,” he said. “But for now, oil has held around $83 per barrel, and without a further climb, gas price increases should slow down soon in the bulk of the nation.”
The average U.S. price rose 3.8 cents over the past week to $3.36. California’s average increased by 7 cents to $4.56. The state has taxes and regulations that add to the cost.
This story was originally published October 26, 2021 at 5:00 AM.
