Gas prices in Michigan are the exact same price as a week ago. Michigan drivers are paying an average of $3.83 per gallon for regular unleaded. This price is 25 cents less than this time last month but still 62 cents more than this time last year.
Motorists are paying an average of $57 for a full 15-gallon tank of gasoline; an increase of about $6 from when prices were their highest last November.
According to new data from the Energy Information Administration (EIA), gas demand increased slightly from 8.43 million b/d to 8.59 million b/d. However, the rate is nearly 1 million b/d lower than the last week of August 2021. Moreover, according to the EIA, total domestic gasoline stocks decreased by 1.1 million bbl to 214.5 million bbl. Although gasoline demand has increased and supply has tightened, lower oil prices have led to falling pump prices.
At the close of Wednesday’s formal trading session, WTI decreased by $2.09 to settle at $89.55. Crude prices declined last week amid market concerns that crude demand will fall if economic growth slows or stalls due to a recession. Crude prices will likely follow suit if demand declines due to reduced economic activity. EIA’s latest weekly report also showed that total commercial crude inventories decreased by 3.4 million bbl to 418.3 million bbl. Despite crude stocks being down 7.1 million bbl from the inventory level at the end of August 2021, fear of a recession has pushed crude prices lower.
“Michigan motorists saw an uptick in gas prices heading into Labor Day weekend,” said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. “Despite the slight increase, the Michigan state average held steady week over week.”
Compared to last week, Metro Detroit’s average daily gas price increased. Metro Detroit’s current average is $3.97 per gallon, about 3 cents more than last week’s average and 70 cents more than this same time last year.
Click here to view AAA’s state and metro gas averages
Most expensive gas price averages: Ann Arbor ($3.98), Metro Detroit ($3.97), Traverse City ($3.95)
Least expensive gas price averages: Grand Rapids ($3.62), Saginaw ($3.69), Lansing ($3.69)
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.
