Michigan gas prices drop from year’s record high

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Gas prices in Michigan have dipped from the 2024 record-high price of $3.81 on Friday, AAA officials announced Monday.

Michigan drivers are now paying an average of $3.78 per gallon for regular unleaded gasoline. The new price is 8 cents more than this time last month and 12 cents above a year ago, AAA-The Auto Club Group said in a release.

Motorists are paying an average of $56 for a full 15-gallon tank of gasoline, according to the statement.

According to new data from the Energy Information Administration, gas demand surged and total domestic gasoline stocks jumped from 233.0 million to 227.4 million barrels.

The EIA reports crude oil inventories decreased by 3.7 million barrels from the previous week. At 436.5.7 million barrels, the US crude oil inventories are about 5% below the five-year average for this time of year, AAA reported.

“Michigan drivers are seeing much higher prices at the pump as the state average set a new 2024-high on Friday,” said Adrienne Woodland, a spokesperson for AAA-The Auto Club Group. “Refinery issues in Joliet, Illinois, alongside higher gasoline demand, have led to an increase in gas prices across the upper Midwest.”

In Metro Detroit, the average daily gas price is $3.70, which is 6 cents more than last week’s average and 3 cents above a year ago.

The most expensive gas price averages are in Jackson ($3.89), Grand Rapids ($3.88) and Lansing ($3.87).

The least expensive gas price averages are in Marquette ($3.48), Metro Detroit ($3.70) and Traverse City ($3.75).

The national average price of diesel has dropped 2 cents in the last week and stands at $3.81 cents per gallon.

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