DEARBORN, MI— Gas prices in Michigan are down 7 cents from last week. Michigan drivers are now paying an average of $3.28 per gallon for regular unleaded. This price is the exact same as this time last month and 22 cents less than this time last year.
Motorists are paying an average of $49 for a full 15-gallon tank of gasoline; a discount of about $9 from 2023's highest price last August.
According to new data from the Energy Information Administration (EIA), gas demand surged from 8.52 million b/d to 9.65. Meanwhile, total domestic gasoline stocks plunged from 221.2 million barrels to 214.9, while gasoline production increased, averaging 10.2 million barrels daily.
At the close of Wednesday’s formal trading session, WTI fell by 33 cents to settle at $73.24 a barrel. The EIA reports that crude oil inventories increased by 5.8 million barrels from the previous week. At 422.7 million barrels, U.S. crude oil inventories are about 4% below the five-year average for this time of year.
"Despite an increase in demand, Michigan gas prices continue to decline across the state," said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. "If demand reverses course, drivers could see gas prices continue to drop."
Compared to last week, Metro Detroit’s average daily gas price decreased slightly. Metro Detroit’s current average is $3.40 per gallon, about 3 cents less than last week’s average and 7 cents less than this same time last year.
Click here to view AAA's state and metro gas averages.
- Most expensive gas price averages: Metro Detroit ($3.40), Ann Arbor ($3.37), Marquette ($3.28)
- Least expensive gas price averages: Benton Harbor ($3.13), Saginaw ($3.16), Grand Rapids ($3.17)
