LANSING, Mich. (WLNS) — The trend of slowly declining gas prices this year has continued, with statewide prices down by 6 cents per gallon from a week ago.
That’s 10 cents than this time last month, and 22 cents than this time last year, AAA said in a news release Monday.
Michiganders are now paying an average of $54 at the pump for a full, 15-gallon tank of regular unleaded; that, for what it’s worth, is $24 less than the high price of 2022, last June.
The near future of gas prices is relatively uncertain, as the Energy Information Administration reports that gas demand increased from 9.07 million to 9.32 million barrels per day in the last week. At the same time, total domestic gasoline stocks dropped from 217.4 million to 214.7 million barrels of crude oil.
“Rising oil prices, higher gas demand and tighter supply may push pump prices higher,” said AAA spokeswoman Adrienne Woodland.
Oil prices increased increased last week amid news that Saudi Arabia plans to continue voluntarily cutting production of 1 million barrels per day through the end of the year. In addition, the EIA said total domestic commercial crude inventories had decreased by a significant margin, from 422.9 million to 416.6 million barrels of crude.
Here in Michigan, the most expensive average gas prices Monday can be seen in Marquette ($3.77), Traverse City ($3.72) and metro Detroit ($3.71). Meanwhile, the state’s least expensive prices are in Benton Harbor ($3.49), Flint ($3.52) and Grand Rapids ($3.56).
You can find daily national, state and metro gas price averages here.
