DEARBORN, MI— Gas prices in Michigan are up 13 cents from this time last week. Michigan drivers are now paying an average of $3.44 per gallon for regular unleaded. This price is still 22 cents less than this time last month and 80 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 decreased slightly from 8.86 to 8.7 million b/d. Meanwhile, total domestic gasoline stocks remained flat at 223.5 million bbl.
At the close of Wednesday’s formal trading session, WTI decreased by 58 cents to settle at $80.44. Oil prices fell as the dollar strengthened after the U.S. Federal Reserve decided to hold off on another interest rate increase for now. Additionally, the EIA reported that total domestic commercial crude inventories increased by 800,000 bbl to 421.9 million bbl.
"Despite a decline in the national average, tight gasoline supply in the Midwest has Michigan drivers seeing higher prices at the pump," said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. "If Midwest gasoline stocks continue to tighten, Michigan gas prices could rise further."
Compared to last week, Metro Detroit’s average daily gas price increased. Metro Detroit’s current average is $3.42 per gallon, about 6 cents more than last week’s average but still 81 cents less than this same time last year.
Click here to view AAA's state and metro gas averages.
- Most expensive gas price averages: Ann Arbor ($3.49), Jackson ($3.48), Lansing ($3.48)
- Least expensive gas price averages: Benton Harbor ($3.34), Metro Detroit ($3.42), Marquette ($3.43)
