How Michigan gas prices changed through the Labor Day weekend
Despite concerns that increased travel and hurricanes would push gas prices up, in the past week, Michigan’s average gas price has come down — and could fall further depending on what happens to the price of oil.
"Despite busy roadways, Michigan's gas prices continued to decline through Labor Day weekend," Adrienne Woodland, a spokeswoman for AAA, said Monday. "If demand and crude oil prices drop, pump prices could go lower."
The average cost per gallon for regular unleaded was $3.69, down 7 cents from a week ago, according to AAA, which tracks prices nationwide. Motorists are paying an average of $55 for a full 15-gallon tank of gasoline. The national average is $3.81 a gallon.
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Gas demand increased slightly from 8.91 million to 9.07 million barrels a day, according to new data from the Energy Information Administration. Meanwhile, total domestic gasoline stocks took a slight step back to 217.4 million barrels.
Although demand has increased, fluctuating oil prices have limited pump price increases.
West Texas Intermediate, an oil benchmark, increased by 47 cents to settle at $81.63 a barrel. Oil prices went up with concerns Hurricane Idalia would interrupt fuel supply in the Southeast.
However, some fuel terminals have resumed operations as storms subside.
Most expensive Michigan gas price averages
Marquette: $3.86
Traverse City: $3.80
Ann Arbor: $3.76
Least expensive Michigan gas price averages
Flint: $3.58
Benton Harbor: $3.59
Grand Rapids: $3.64
Contact Frank Witsil: 313-222-5022 or fwitsil@freepress.com.
This article originally appeared on Detroit Free Press: Michigan gas prices dip over busy Labor Day weekend
