DEARBORN, MI— Gas prices in Michigan are up 17 cents from a week ago. Michigan drivers are now paying an average of $3.46 per gallon for regular unleaded. This price is 7 cents more than this time last month but still 41 cents less than this time last year.
Motorists are paying an average of $51 for a full 15-gallon tank of gasoline; a discount of about $27 from 2022's highest price last June.
According to new data from the Energy Information Administration (EIA), gas demand jumped from 8.91 million to 9.11 million b/d. Meanwhile, total domestic gasoline stocks decreased by nearly 1 million bbl to 239.2 million bbl last. The increase in gas demand, amid tighter supplies, has contributed to rising pump prices.
At the close of Wednesday’s formal trading session, WTI increased by 64 cents to settle at $77.69. Crude prices increased after the market saw that manufacturing activity rose in China last month, signaling that global oil demand may be more robust than anticipated this year. Additionally, the EIA reported that total domestic commercial crude inventories increased by 1.2 million bbl to 480.2 million bbl.
"Michigan motorists are seeing much higher prices at the pump compared to last week," said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. "If demand continues to grow, alongside tightening supply, drivers are likely to see gas prices continue to rise."
Compared to last week, Metro Detroit’s average daily gas price increased. Metro Detroit’s current average is $3.46 per gallon, about 13 cents more than last week’s average but still 40 cents less than this same time last year.
Click here to view AAA's state and metro gas averages
- Most expensive gas price averages: Lansing ($3.48), Ann Arbor ($3.47), Flint ($3.47)
- Least expensive gas price averages: Marquette ($3.35), Grand Rapids ($3.45), Traverse City ($3.45)
