AAA: Michigan gas prices down just 2 cents compared to last week
Michigan drivers are paying an average of $3.27 per gallon. This price is 5 cents more than this time last month and $1.22 more than this time last year.
DEARBORN, Mich. (WLUC) - Gas prices in Michigan decreased 2 cents compared to last week.
Michigan drivers are now paying an average of $3.27 per gallon for regular unleaded. This price is 5 cents more than this time last month and $1.22 more than this time last year.
Motorists are paying an average of $49 for a full 15-gallon tank of gasoline; an increase of about $10 from when prices were their highest last January.
According to new data from the Energy Information Administration (EIA), total domestic gasoline stocks decreased by 2 million bbl to 215.7 million bbl. Gasoline demand also decreased from 9.63 million b/d to 9.32 million b/d. The drop in demand has helped slow price increases, but elevated crude prices continue to put upward market pressure on pump prices.
At the close of Thursday’s formal trading session, WTI increased by 15 cents to settle at $82.81. Crude prices increased due to a weakening dollar, but prices declined briefly earlier in last week after EIA reported that total domestic crude supply increased by 4.3 million bbl to 430.8 million bbl.
“Despite a slight decline in the Michigan state average, if crude oil prices continue to stay above $80 a barrel, pump prices will likely stay elevated,” said Adrienne Woodland, spokesperson, AAA-The Auto Club Group.
Click here to view AAA’s state and metro gas averages.
- Most expensive gas price averages: Marquette ($3.36 -This is an average of the entire Upper Peninsula), Metro Detroit ($3.32), Traverse City ($3.28)
- Least expensive gas price averages: Grand Rapids ($3.21), Jackson ($3.21), Flint ($3.23)
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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