Michigan average gasoline price down slightly this week, AAA reports
(CBS DETROIT) - Michigan gas prices are averaging $3.09 a gallon for regular unleaded, which is 6 cents less than last week, AAA-The Auto Club Group reports.
The statewide average price per gallon is 3 cents more than a month ago, and 12 cents more than this time last year.
At this week's pricing, it will cost an average $46 to fill a 15-gallon tank. When gasoline prices hit their 2024 peak last July, the cost per 15-gallon tank added up to $57.
Metro Detroit has the most expensive unleaded gasoline in Michigan, settling in this week at an average of $3.19 a gallon, according to the AAA report. Traverse City has the least expensive unleaded gasoline in the state, at an average of $2.95 a gallon.
A number of factors contribute to gas prices; including demand and inventory.
AAA said the last data from the Energy Information Administration shows that gasoline demand is falling to about 8.08 million barrels per day; while domestic gasoline inventories rose and domestic gasoline production decreased.
U.S. crude oil inventories are about 6% below the five-year average for this time of year.
"Some drivers across Michigan are seeing lower prices at the pump," said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. "If crude oil prices decline, alongside low demand, gas prices may continue to fall."
