DEARBORN, MI— Gas prices in Michigan are up 4 cents from a week ago. Michigan drivers are now paying an average of $3.00 per gallon for regular unleaded. This price is 15 cents more than this time last month but still 40 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 increased from 7.89 to 8.14 million b/d. Meanwhile, total domestic gasoline stocks rose by 1.1 million bbl to 254.1 million bbl. Higher gas demand and fluctuating oil prices have contributed to increasing pump prices.
At the close of Wednesday’s formal trading session, WTI decreased by $1.97 to settle at $75.85. Oil prices declined amid a strengthening dollar and no indications of new attacks in the Red Sea. Earlier in the week, attacks against shippers raised prices as commercial ships transiting the Red Sea sought longer, more expensive routes to avoid violence. Additionally, the EIA reported that total domestic retail crude stocks increased by 1.2 million bbl to 421.9 million bbl.
"Michigan motorists are seeing slightly higher gas prices compared to last week," said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. "If oil prices continue to face upward pressure, drivers may see pump prices continue to rise."
Compared to last week, Metro Detroit’s average daily gas price held steady. Metro Detroit’s current average is $2.99 per gallon, the exact same as last week’s average and 47 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 ($3.03), Lansing ($3.03), Saginaw ($3.03)
- Least expensive gas price averages: Marquette ($2.88), Benton Harbor ($2.96), Grand Rapids ($2.98)
