LANSING, Mich. (WLNS) — According to GasBuddy, average gasoline prices in Lansing shot up 46.8 cents per gallon in the last week, setting Mondays average to $5.01 per gallon.
This price is a whopping $2.07 higher than this same time last year.
Gas prices hit $4.99 last week across Lansing, and experts don’t project it to move downwards anytime soon.
The national average price of gasoline is $4.85 per gallon, skyrocketing up 26 cents per gallon in just the last week.
Following this trend, the price of diesel has also increased 11.5 cents nationally in the past week, setting the price to $5.62 per gallon.
“After a blistering week of gas prices jumping in nearly every town, city, state and area possible, more bad news is on the horizon. It now appears not if, but when, we’ll hit that psychologically critical $5 national average. Gasoline inventories continue to decline even with demand softening due to high prices, a culmination of less refining capacity than we had prior to COVID and strong consumption, a situation that doesn’t look to improve drastically anytime soon. Nine states have average gas prices that stand beyond the $5 per gallon mark, with more set to join in the days and weeks ahead. In addition, diesel prices also stand at a record high, a second gut-punch to consumers which pushes prices of most goods higher.”
Patrick De Haan, head of petroleum analysis at GasBuddy