Gas prices in Michigan are down 8 cents from last week. Michigan drivers are now paying an average of $3.31 per gallon for regular unleaded. This price is 2 cents more than this time last month but still 5 cents less than this time last year.
Motorists are paying an average of $49 for a full 15-gallon tank of gasoline; a discount of about $29 from 2022’s highest price last June.
According to new data from the Energy Information Administration (EIA), gas demand dipped slightly from 8.49 million to 8.43 million b/d. The current gas demand rate is approximately 700,000 b/d lower than the rate during the first week of February 2022, helping to explain why gas prices are declining. Meanwhile, total domestic gasoline stocks increased significantly by 5 million bbl to 239.6 million bbl.
At the close of Wednesday’s formal trading session, WTI increased by $1.33 to settle at $78.47. Crude prices rose due to persistent market optimism that global oil demand will be stronger than expected, particularly as China’s economy re-opens after strict lockdowns due to rising coronavirus infection rates. Oil prices rose despite the EIA reporting that total domestic commercial crude inventories increased by 2.4 million bbl.
“Gas prices across Michigan continue to decline,” said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. “If gas demand remains low amid growing total domestic stocks, pump prices will drop further.”
Compared to last week, Metro Detroit’s average daily gas price decreased. Metro Detroit’s current average is $3.37 per gallon, about 8 cents less than last week’s average and 2 cents less than this same time last year.
Click here to view AAA’s state and metro gas averages
Most expensive gas price averages: Jackson ($3.38), Metro Detroit (3.37), Ann Arbor ($3.37)
Least expensive gas price averages: Grand Rapids ($3.15), Benton Harbor ($3.18), Lansig ($3.25)
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.
Enroll in savings programs. AAA Members who enroll in Shell’s Fuel Rewards program can save 5 cents per gallon when they fill up at Shell. Click here for more information.
