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Michigan gas prices drop 9 cents from a week ago

DEARBORN, MI— Gas prices in Michigan are down 9 cents compared to last week. Michigan drivers are now paying an average of $3.62 per gallon for regular unleaded. This price is 21 cents more than this time last month but still 32 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 decreased from 8.94 to 8.52 million b/d. Meanwhile, total domestic gasoline stocks increased slightly by 1.3 million bbl to 223.5 million bbl.

At the close of Wednesday’s formal trading session, WTI decreased by $1.70 to settle at $79.16. Oil prices fell amid ongoing market concerns that future interest rate increases could tip the economy into a recession, likely leading to reduced oil demand and prices. Additionally, the EIA reported that total domestic commercial crude inventories decreased by 4.5 million bbl to 466 million bbl.

"After a spike in prices, Michigan motorists are seeing some slight relief at the pump," said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. "Lower demand, alongside growth in stocks is finally helping to push gas prices lower."

Compared to last week, Metro Detroit’s average daily gas price decreased. Metro Detroit’s current average is $3.60 per gallon, about 6 cents less than last week’s average and 39 cents less than this same time last year.

Click here to view AAA's state and metro gas averages

  • Most expensive gas price averages:  Traverse City ($3.72), Marquette ($3.70), Lansing ($3.67)
  • Least expensive gas price averages: Metro Detroit ($3.60), Grand Rapids ($3.61), Flint ($3.61)
Nicole was born near Detroit but has lived in the U.P. most of her life. She graduated from Marquette Senior High School and attended Michigan State and Northern Michigan Universities, graduating from NMU in 1993 with a degree in English.