Prices at the pumps statewide increase 7 cents
The Michigan state average is up 39 cents compared to last month
DEARBORN, Mich. (WLUC) - Michigan gas price averages have risen again around the state this week, a total of 7 cents since last week.
Michigan drivers are now paying an average of $3.37 per gallon for regular unleaded gas. This price is 39 cents more than this time last month, and 13 cents more than this time last year.
Motorists are paying an average of $50 for a full 15-gallon tank of gasoline; a discount of about $28 from 2022′s highest price last June.
According to new data from the Energy Information Administration, gas demand rose from 7.56 to 8.05 million b/d. Despite the messy West Coast weather, a mild winter elsewhere in the nation may have led to more drivers getting behind the wheel. Meanwhile, total domestic gasoline stocks increased by 3.5 million bbl to 230.3 million bbl. Rising gas demand has contributed to higher pump prices.
At the close of Wednesday’s formal trading session, WTI decreased by 70 cents to settle at $79.48. Crude prices took a slight step back due to lingering economic concerns that a recession could occur this year. If economic growth stalls or reverses course, oil demand will likely decline, and prices will follow suit.
“An increase in demand has Michigan motorists seeing higher prices at the pump,” said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. “If demand remains robust, drivers will likely see pump prices increase through the week.”
Compared to last week, Metro Detroit’s average daily gas price increased. Metro Detroit’s current average is $3.38 per gallon, about 4 cents more than last week’s average and 17 cents more than this same time last year.
Click here to view AAA’s state and metro gas averages.
- Most expensive gas price averages: Jackson ($3.40), Lansing ($3.39), Metro Detroit ($3.38)
- Least expensive gas price averages: Traverse City ($3.33), Ann Arbor ($3.34), Benton Harbor ($3.35)
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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