DEARBORN, MI— Gas prices in Michigan are up 6 cents from this time last week.
Michigan drivers are now paying an average of $3.02 per gallon for regular unleaded. This price is 6 cents more than this time last month but still 29 cents less than this time last year.
Motorists are paying an average of $45 for a full 15-gallon tank of gasoline; a discount of about $13 from 2023's highest price last August.
According to new data from the Energy Information Administration (EIA), gas demand remains robust after it took a slight step back from 8.33 to 8.27 million b/d. Meanwhile, total domestic gasoline stocks increased by 3.1 million bbl to 248.1 million bbl. Fluctuating oil prices, alongside robust demand, have pushed pump prices up, but price gains have been capped due to rising stock levels.
At the close of Wednesday’s formal trading session, WTI increased by 16 cents to settle at $72.56. Oil prices rose after supply outages due to winter storms caused market concern about tight supply to meet demand. Additionally, the EIA reported that total domestic commercial crude stocks decreased by 2.5 million bbl to 429.9 million bbl.
"Michigan motorists are seeing higher gas prices across most of the state," said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. "If oil prices continue to see upward pressure, drivers could see pump prices increase through this week."
Compared to last week, Metro Detroit’s average daily gas price increased. Metro Detroit’s current average is $3.03 per gallon, about 6 cents more than last week’s average but still 34 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 ($3.07), Benton Harbor ($3.06), Jackson ($3.05)
- Least expensive gas price averages: Marquette ($2.89), Grand Rapids ($3.01), Flint ($3.01)
