Michigan gas prices are at lowest price since May
(CBS DETROIT) - The average price of gas in Michigan is at its lowest price since May and has fallen 7 cents since last week, according to AAA.
Right now, drivers across the state are paying about $3.40 per gallon for regular unleaded gas. This is about 66 cents less than what drivers were paying for gas at this time last year.
In addition, motorists are paying an average of $51 for a full 15-gallon tank of gasoline, which is about $27 less than 2022's highest price.
Last week, the price of oil increased due to concerns that the Israel-Hamas war could lead to reduced oil output from countries located in that area, according to AAA.
Those concerns have subsided, according to AAA, as it looks like the conflict will not spread across the Middle East for the time being.
"Gas prices across the state continue to fall, with Michigan motorists paying the lowest prices since May," said Adrienne Woodland, AAA-The Auto Club Group spokesperson. "If oil prices remain steady or fall, drivers can expect further price drops at the pump in the weeks ahead."
The gas price in Metro Detroit decreased slightly from last week, with the current average at $3.42. This is 3 cents less than the average last week.