Gas prices in Michigan are up 10 cents from a week ago. Michigan drivers are now paying an average of $3.62 per gallon for regular unleaded. This price is 7 cents more than this time last month but still 34 cents less than this time last year.
Motorists are paying an average of $54 for a full 15-gallon tank of gasoline; a discount of about $24 from 2022’s highest price last June.
According to new data from the Energy Information Administration (EIA), gas demand increased slightly from 9.15 to 9.3 million b/d. Meanwhile, total domestic gasoline stocks decreased substantially by 4.1 million bbl to 222.6 million bbl. Increased demand amid tighter supply has contributed to pushing pump prices higher.
At the close of Wednesday’s formal trading session, WTI decreased by 10 cents to settle at $80.61. Oil prices declined slightly due to market concerns that a recession could occur this year, which could push oil demand and prices down. Earlier last week, crude prices spiked after the Organization of Petroleum Exporting Countries and its allies, including Russia, collectively known as OPEC+, announced it would cut production by 1.6 million bbl starting next month for the remainder of 2023. Additionally, the EIA reported that total domestic commercial crude inventories decreased by 3.7 million bbl to 470 million bbl.
“Michigan drivers are seeing higher prices at the pump compared to last week,” said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. “If demand continues to rise, gas prices will likely follow suit.”
Compared to last week, Metro Detroit’s average daily gas price increased. Metro Detroit’s current average is $3.58 per gallon, about 9 cents more than last week’s average but still 42 cents less than this same time last year.
Click here to view AAA’s state and metro gas averages
Most expensive gas price averages: Marquette ($3.70), Jackson ($3.67), Saginaw ($3.67)
Least expensive gas price averages: Metro Detroit ($3.58), Traverse City ($3.62), Ann Arbor ($3.64)
Find Local Gas Prices
Daily national, state, and metro gas price averages can be found at Gasprices.aaa.com
Motorists can find the lowest gas prices on their smartphone or tablet with the free AAA Mobile app. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance.
Ways to Save on Gasoline
Combine errands to limit driving time.
Shop around for the best gas prices in your community.
Consider paying cash. Some retailers charge extra per gallon for customers who pay with a credit card.
Remove excess weight in your vehicle.
Drive conservatively. Aggressive acceleration and speeding reduces fuel economy.
