Motorists in Michigan have reason to feel a slight relief at the pump as gas prices have seen a noticeable dip. According to CBS News Detroit, the average price for regular unleaded gas in the state has dropped 11 cents from last week to $3.04 per gallon. This is also a decrease of 7 cents compared to last month, and a significant 68 cents less than the same period last year. A filling up a 15-gallon tank, which now costs about $45, is more economical for drivers.
In Detroit, the average gas prices have also followed the downward trend. As reported by The Detroit News, the price at the pump is $3.03 per gallon, a drop of 5 cents in just the past week. This current price reflects an increase of 4 cents since late March, while being 61 cents lower than what it was a year ago. Meanwhile, WXYZ notes that the most expensive gas price averages in the state can be found in Ann Arbor at $3.11, with Metro Detroit not far behind at $3.07, and Marquette at $3.03.
The recent decline in prices accompanies new data from the Energy Information Administration, which observed an increase in gasoline demand rising from 8.46 million barrels per day to 9.41, as documented by both CBS Detroit and The Detroit News. Despite this increase in demand, total domestic gasoline supply decreased, with gasoline production averaging 10.1 million barrels per day. As it stands, U.S. crude oil inventories are around 5% below the five-year average for this time of the year, totaling 443.1 million barrels.
Contrasting the Michigan trend, the national average price of gasoline has remained stable, averaging $3.10 per gallon according to GasBuddy data cited by The Detroit News. "Average gasoline prices in the U.S. have been volatile over the past week, with roughly half of the 50 states seeing prices decline while the other half experienced increases," Patrick De Haan, head of petroleum analysis at GasBuddy, told The Detroit News. On the less expensive end, Benton Harbor boasts the least expensive gas price averages at $2.95, followed closely by Jackson and Flint, rounding out the accessibility of lower-priced fuel across the state.
