SOUTHFIELD, Mich – The good news is that rising gas prices in the United States have finally come to a halt. The bad news is that the average cost of filling up a vehicle is still at record highs due to stagnation.
After weeks of what appeared to be an inexorable upward trend in gasoline prices, AAA reports that the average price has dropped a half-cent after reaching a new high of $4.326 on Saturday. Prices in Michigan have dropped to $4.24 per gallon.
It’s 27 cents higher than a week ago and 89 cents higher than a month ago in Michigan, with a 15-gallon tank costing an average of $63 to fill.
While the leveling off of price rises is a good sign that things aren’t going worse, continuous record-high levels indicate that those who can’t afford to compensate for the price increase will have to be cautious about how they plan their vacations.
Crude oil “began to show some weakness” last week, according to AAA, when prices fell on Wednesday. Nonetheless, it is still under pressure from several sources, notably Russia’s invasion of Ukraine, which is driving up expenses.
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“After establishing a new record high of $4.26 per gallon, Michigan gas prices have dipped marginally,” said Adrienne Woodland, AAA-The Auto Club Group spokesperson. “Despite the small drop, Michigan motorists are still paying the highest gas prices in more than a decade.”
Michigan gas price levels:
- Metro Detroit averages at $4.25
- Marquette averages at $4.28
- Ann Arbor averages at $4.26
- Benton Harbor at $425
- Grand Rapids at $4.23
- Flint at $4.23