AAA: Most Michigan drivers see slight decline in gas prices
Michigan drivers are now paying an average of $3.23 per gallon for regular unleaded, which is 12 cents more than this time last month and $1.07 more than this time last year.
DEARBORN, Mich. (WLUC) - Gas prices in Michigan dropped 4 cents compared to last week.
Michigan drivers are now paying an average of $3.23 per gallon for regular unleaded. This price is 12 cents more than this time last month and $1.07 more than this time last year.
Motorists are paying an average of $48 for a full 15-gallon tank of gasoline; an increase of about $9 from when prices were their highest last January.
In its latest weekly report, the Energy Information Administration (EIA) reported that gas demand only grew from 9.28 million b/d to 9.30 million b/d. Additionally, total domestic gas stocks saw a slight decline to 236.4 million bbl. These trends have helped to stabilize price increases; however, crude oil prices fluctuated last week.
At the close of Thursday’s formal trading session, WTI increased by $1.61 to settle at $71.91. Earlier last week, crude prices tumbled to $66 per barrel due to market concerns that the spread of the COVID-19 delta variant will slow potential economic growth. However, market concern about the ongoing pandemic reversed, helping to push crude prices higher. Prices have increased despite plans by the Organization of the Petroleum Exporting Country (OPEC) to increase production next month.
“The drop in crude prices early last week helped pump prices stabilize,” said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. “With crude returning to above $70 per barrel, drivers can expect gas prices to remain above $3 per gallon throughout the summer.”
Click here to view AAA’s state and metro gas averages:
- Most expensive gas price averages: Marquette ($3.29), Metro Detroit ($3.28), Ann Arbor ($3.25)
- Least expensive gas price averages: Benton Harbor ($3.10), Traverse City ($3.15), Grand Rapids ($3.20)
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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