Michigan gasoline prices continue to fall, with the state average per-gallon price down 33 cents from last month, AAA reports.
Gas prices in Michigan are also down 14 cents from last week. Michigan drivers are now paying an average of $2.82 per gallon for regular unleaded − 13 cents less than this time last year.
“Motorists across Michigan are seeing the lowest gas prices since October,” said Adrienne Woodland, a spokesperson for AAA-The Auto Club Group. “With demand declining and gasoline inventories climbing, pump prices may continue to drop.”
Metro Detroit is seeing the discounts as well. The current average gasoline price in metro Detroit is $2.89 per gallon, about 7 cents less than last week’s average and 8 cents less than this same time last year.
According to new data from the Energy Information Administration, gasoline demand decreased from 8.72 million barrels per day to 8.32 million. Total domestic gasoline supply increased from 209.9 million barrels to 214.4 million. Gasoline production increased, averaging 9.8 million barrels per day.
According to AAA, the most expensive average gas prices in Michigan are in Ann Arbor ($2.96), metro Detroit ($2.89) and Jackson ($2.84). The least expensive average gas prices are in Traverse City ($2.58), Benton Harbor ($2.72) and Flint ($2.72).
Patrick De Haan, head of petroleum analysis at GasBuddy, said BP’s Whiting, Indiana refinery getting back online after an October fire, lower demand seasonally, and refinery maintenance season concluding are among the reasons that gas prices are lowering. OPEC, the Organization of the Petroleum Exporting Countries, has also boosted its oil production, he said.
Contact Keith Matheny: kmatheny@freepress.com.
This article originally appeared on Detroit Free Press: Michigan gas prices continue to plummet, down 33 cents from last month
Reporting by Keith Matheny, Detroit Free Press / Detroit Free Press
USA TODAY Network via Reuters Connect
