This Morning: Michigan gas prices expected to increase in coming days

News

Michigan’s average price of gas dropped below $2 a gallon for the first time since April of 2016.

According to GasBuddy.com the price fell to an average of $1.999 per gallon on Tuesday night.

With the drop, Michigan became the 13th state where gas fell below the $2 mark.

The company released it’s 2019 fuel report saying prices are expected to surge from current lows in the new year.

Experts say within just the next 7 days, drivers could see prices increase by .40 cents.

Their advice, fill up now.

Some highlights from GasBuddy’s 2019 Fuel Price Outlook include:

  • The nation’s yearly gasoline bill will fall to $386 billion dollars, a drop of $2.5 billion over last year as the average household sees their annual gasoline spending fall slightly to $1,991, down $25 from 2018.
  • The national average is forecast to rise as much as $1 per gallon from a low in January to a possible peak in May, but economic jitters could weigh heavily on where gas prices go in 2019.
  • Over 90% of the country’s largest metro areas are at risk for seeing average prices hit $3 per gallon, including Atlanta, Boston, Chicago, Los Angeles, Miami, New York City, Philadelphia, Phoenix, San Francisco, Seattle, and Washington, D.C.
  • How accurate was GasBuddy’s 2018 Forecast? Assembled in late 2017, the forecast called for a yearly national average of $2.57 per gallon with a peak of $2.89 per gallon in April. 2018 ended with a yearly national average of $2.73 per gallon with a peak of $2.98 per gallon on May 24.

See the full report here .

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