DEARBORN, MI— Gas prices in Michigan are up 9 cents from a week ago.
Michigan drivers are now paying an average of $3.65 per gallon for regular unleaded, which is a new 2024-high. This price is 44 cents more than this time last month and 18 cents more than this time last year.
Motorists are paying an average of $54 for a full 15-gallon tank of gasoline; a discount of about $4 from 2023's highest price last August.
According to new data from the Energy Information Administration (EIA), gas demand increased slightly from 9.01 to 9.04 million b/d. Meanwhile, total domestic gasoline stocks dropped by 5.6 million bbl to 234.1 million bbl. Higher gas demand, amid tightening supply, has pushed the national average higher.
At the close of Wednesday’s formal trading session, WTI increased by $2.16 to settle at $79.72. Oil prices jumped after Ukrainian drones hit Russian refineries. The extent of the damage is unclear, but repairs could curtail Russian petroleum product exports, including diesel, and lead it to import products it needs. Additionally, the EIA reported that total domestic commercial crude stocks decreased by 1.5 million bbl to 447 million bbl.
"Michigan motorists continue to see higher prices at the pump, with the state average reaching a new 2024-high," said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. "If demand continues to increase, alongside tight supply, gas prices will likely follow suit."
Compared to last week, Metro Detroit’s average daily gas price increased. Metro Detroit’s current average is $3.57 per gallon, about 9 cents more than last week’s average and 7 cents more than this same time last year.
Click here to view AAA's state and metro gas averages.
- Most expensive gas price averages: Grand Rapids ($3.71), Jackson ($3.71), Saginaw ($3.70)
- Least expensive gas price averages: Marquette ($3.49), Metro Detroit ($3.57), Flint ($3.60)
