Michigan motorists are digging deeper into their wallets this week as pump prices for regular unleaded gasoline rose by a nickel to an average of $3.62 per gallon, a tick up from the $3.57 observed last week. This current figure is also a considerable 31 cents more than last month, and 9 cents higher than prices a year prior, as reported by The Detroit News.
Drivers in the state, now accustomed to the fluctuating prices, are paying around $54 for a full 15-gallon tank of gasoline, reflecting a moderate savings from the peak of last August, where prices soared to about $4 higher, as WNMU-FM highlighted. In spite of a slight dip in gasoline demand from 8.81 to 8.72 million barrels per day, according to Energy Information Administration data, prices at the pump have failed to retreat.
AAA-The Auto Club Group's spokesperson, Adrienne Woodland, noted the contradictory price movement, explaining, "Despite the slight decrease in demand, Michigan gas prices are up compared to last week." She further indicated that, "Pump prices will likely face upward pressure if gasoline stocks continue to decrease alongside rising oil prices," in statements obtained by both WXYZ and The Detroit News.
In the greater Detroit area, prices edged out a little above the state average at $3.58 per gallon, exhibiting a 2 cents hike from last week, and it's 8 cents more than same period in the previous year. The most expensive gas price averages in the state were found in Jackson at $3.66, Benton Harbor at $3.65, and Grand Rapids at $3.65. On the other end of the spectrum, the least costly averages were observed in Marquette at $3.52, Metro Detroit at $3.58, and Traverse City at $3.60, as per reports by WXYZ and WNMU-FM.
