Motorists in Michigan and Florida are digging deeper into their wallets as gas prices continue to skyrocket, with recent spikes in pump prices signaling a new financial headache for drivers. According to The Detroit News, the state gas price in Michigan has reached a new 2024 high at $3.65 per gallon. This marks a significant jump, up 44 cents from the previous month and 18 cents from the same time last year.
Meanwhile, Mark Jenkins, a spokesperson for AAA, told aroundosceola, "Drivers may be in line for another round of rising prices, after gasoline and crude oil futures rose to new 2024 highs last week."
These rising costs have directly affected drivers, who are now paying an average of $54 for a full 15-gallon tank of gas; a slight reprieve compared with the discount of about $4 from 2023's highest price last August, as reported by WHMI 93.5 FM. The surge in prices has been attributed to various international and domestic factors. Oil prices have seen upswings after Ukrainian drone attacks damaged Russian refineries, with the direct impact on Russian petroleum and diesel exports remaining uncertain.
The situation is compounded by a report from the Energy Information Administration (EIA), which noted a decrease in the total domestic commercial crude stocks by 1.5 million barrels, leaving the stock at 447 million barrels. In response to the tightening supply and increased gas demand, Adrienne Woodland, a spokesperson for AAA, stated that if demand continues to rise alongside supply constraints, "If demand continues to increase, alongside tight supply, gas prices will likely follow suit.", as obtained by WHMI 93.5 FM.
In specific localities, the pinch has been felt unevenly. While Metro Detroit's average gas price climbed 9 cents since last week to $3.57 per gallon, it remains below the state average, according to The Detroit News. The most expensive gas can be found in Grand Rapids, Jackson, and Saginaw, all hovering around $3.71 per gallon. On the other end of the spectrum, Marquette boasts the least expensive average at $3.49 per gallon, followed closely by Metro Detroit and Flint. Across the board in Florida, as families return from Spring Break, they face similar price hikes, with Osceola County seeing an average price of $3.46 per gallon, nearly matching averages in Orange and Polk counties, and marking an increase from $3.30 just a month ago as per aroundosceola.
