LANSING, Mich. — Gas prices in Michigan have dropped by three cents this week, with the average cost for regular unleaded gas now sitting at $3.07 per gallon. This marks a $0.07 decrease from last month and a $0.16 reduction compared to the same time last year.
According to AAA, the typical driver is now paying approximately $46 for a full 15-gallon tank of gas. This represents a significant savings of around $11 compared to the peak prices of July 2024.
Despite this decrease, recent data from the Energy Information Administration (EIA) shows an uptick in gasoline demand, which has risen from 8.32 million barrels daily to 8.57 million. Meanwhile, the domestic gasoline supply has decreased slightly, from 251.1 million barrels to 248.1 million barrels. On a positive note, domestic gasoline production has increased to an average of 9.3 million barrels per day, helping to offset some of the supply shortfall.
Adrienne Woodland, a spokesperson for AAA-The Auto Club Group, cautioned that if the demand continues to climb while gasoline stocks tighten, there could be upward pressure on prices in the near future.
The most expensive gas prices in the state are currently in Ann Arbor ($3.15), Metro Detroit ($3.14), and Marquette ($3.06). On the other hand, the least expensive gas can be found in Traverse City ($2.97), Benton Harbor ($2.98), and Grand Rapids ($3.00).
While prices have dipped, consumers should remain vigilant as supply and demand dynamics may lead to fluctuations in the coming weeks.
