Michigan gas prices increased 17 cents from last week, AAA says

Chandra Fleming, Detroit Free Press
·2 min read
8

Gas prices went up this past week across Michigan, by an average of 17 cents, according to the AAA Auto Club Group.

The average gas price is now $3.46 per gallon for regular unleaded, AAA said. That is seven cents more than what it was around this time last month, but it’s still 41 cents less than what it was this time last year.

AAA said motorists are paying an average of $51 for a full 15-gallon tank of gasoline, a discount of about $27 from 2022's highest price last June.

Why are gas prices rising?

According to data from the Energy Information Administration (EIA), the demand for gas jumped from 8.91 million to 9.11 million barrels per day. The total domestic demand for gasoline stocks decreased by nearly 1 million barrels of crude oil to 239.2 million. The slight increase in gas demand, amid tighter supplies, contributes to rising pump prices.

At Wednesday's formal trading session close, WTI increased by 64 cents to settle at $77.69. Crude prices increased once the market saw manufacturing activity rose in China in the last month. That signaled that the global oil demand may be stronger than anticipated this year according to a news release from AAA.

The EIA also said that total domestic commercial crude inventories increased by 1.2 million barrels, to 480.2 million.

AAA spokesperson Adrienne Woodland said gas prices will continue to increase if the demand continues to spike.

"Michigan motorists are seeing much higher prices at the pump compared to last week," Woodland said. "If demand continues to grow, alongside tightening supply, drivers are likely to see gas prices continue to rise."

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Most expensive gas price averages

  • Lansing: $3.48

  • Ann Arbor: $3.47

  • Flint at $3.47

Least expensive gas price averages

  • Marquette: $3.35

  • Grand Rapids: $3.45

  • Traverse City: $3.45

Metro Detroit's average gas price is $3.46 for regular unleaded, a little higher than last week's average. The current average increased 13 cents more than last week's average, but is still 40 cents less than the same time last year.

The national gas price was $3.40 on Sunday, according to AAA.

This article originally appeared on Detroit Free Press: Michigan gas prices increased 17 cents, to $3.46 per gallon