AAA: Michigan gas prices up 16 cents compared to last week
The statewide average of $2.96 per gallon is highest average since October 2018.
DEARBORN, Mich. (AAA/WLUC) - Gas prices in Michigan are up 16 cents compared to last week. Michigan drivers are now paying an average of $2.96 per gallon for regular unleaded, which is the highest price since October 2018. This price is 16 cents more than this time last month and $1.14 more than this time last year.
Motorists are paying an average of $44 for a full 15-gallon tank of gasoline; an increase of about $5 from when prices were their highest last January.
According to new data from the Energy Information Administration (EIA), total domestic refinery utilization increased to 86.5 percent amid a slight drop in demand from 8.88 million b/d to 8.86 million b/d. The demand decrease helped to limit price increases, but American drivers should expect continued price fluctuations at the pump in the lead up to Memorial Day Weekend.
At the close of Thursday’s formal trading session, WTI decreased by 92 cents to settle at $64.71. Crude prices increased last week, but continuing market concern that crude demand will stumble due to surging coronavirus infection rates around the globe have limited price gains. Additionally, prices increased after EIA’s weekly report revealed that total domestic crude oil inventory dropped by 8 million bbl to 485.1 million bbl.
“According to the EIA’s weekly report, gas stocks in the Midwest decreased to the lowest levels since October of 2020,” said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. “The tightening supply put pressure on pump prices, resulting in a double digit spike in Michigan.”
Compared to last week, Metro Detroit’s average daily gas price increased. Metro Detroit’s current average is $2.96 per gallon, about 14 cents more than last week’s average and $1.18 more than this same time last year.
Click here to view AAA’s state and metro gas averages:
- Most expensive gas price averages: Traverse City ($2.99), Ann Arbor ($2.98), Saginaw ($2.97)
- Least expensive gas price averages: Lansing ($2.94), Flint ($2.94), Benton Harbor ($2.95)
Find Local Gas Prices
- Daily national, state, and metro gas price averages can be found at Gasprices.aaa.com.
- Motorists can find the lowest gas prices on their smartphone or tablet with the free AAA Mobile app. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance.
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