Michigan drivers are digging a bit deeper into their wallets for gas this week. The American Automobile Association (AAA) reports that gas prices in the state have risen by 12 cents in the past week, placing the average at $3.15 per gallon for regular unleaded fuel. This figure is also up from the same time last month, by 8 cents, and from last year, by 11 cents. The Detroit News noted that "Michigan motorists are seeing higher prices at the pump this week."
With national averages sitting below the Michigan rate at $3.12 per gallon, local drivers are bound to feel the pressure, especially given the harsh winter temperatures that demand to keep vehicles adequately fueled. According to Upper Michigan, "If crude oil prices continue to rise, gas prices will likely follow suit," said Adrienne Woodland, a spokesperson for AAA-The Auto Club Group. A 15-gallon tank of gas now costs an average of $47, which, while still offering a $10 discount from the peak prices of last July, is an uptick that drivers must be grudgingly adjusting to.
Breaking down the numbers regionally, Metro Detroit's average currently stands at $3.18 per gallon. This is a 10-cent increase from last week and 15 cents higher than the price level at the same period last year. Conversely, cities like Traverse City, Benton Harbor, and Marquette are seeing the state's most affordable gas prices, with averages ranging from $3.01 to $3.12 per gallon.
Gas prices fluctuate weekly against a backdrop of fluctuating oil market dynamics. Despite this rise, the Energy Information Administration's recent data illustrates that domestic gasoline stocks have, conversely, increased, with total inventories rising to 243.6 million barrels. Production has also seemed to pop, with averages surging to 9.3 million barrels per day, which may, in turn, exert downward pressure on prices should this trend hold steady.
