Michigan gas prices jump 12 cents from a week ago

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    Michigan gas price averages rose 12 cents from this time a week ago.
    
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    Drivers are paying an average of $3.15 per gallon of unleaded gas.
    
  • 
    If crude oil prices continue to rise, gas prices are expected to keep ticking up.
    

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  Michigan gas price averages rose 12 cents from this time a week ago.
  
• 
  Drivers are paying an average of $3.15 per gallon of unleaded gas.
  
• 
  If crude oil prices continue to rise, gas prices are expected to keep ticking up.
  

DETROIT (FOX 2):According to AAA data, drivers in Michigan are spending somewhat more this week than they did a week ago to fill up their tanks.

The average price of gas increased by 12 cents from this time last week, making a gallon of unleaded gas at $3.15. This is an 11-cent increase over this time last year and an 8-cent increase over this time last month.

A full tank of unleaded gasoline now costs an average of $47, according to AAA. Compared to last July’s peak price in 2024, this is down roughly $10.

Although somewhat less than the rest of the state, gas prices increased in the Metro Detroit area as well. The average daily gas price in Metro Detroit went up to $3.18 a gallon from the previous week, which is roughly 10 cents higher than the average from the previous week and 15 cents more than it was at this time last year.

Based on the figures:

The Energy Information Administration (EIA) recently released data showing that the demand for gasoline decreased from 8.48 million barrels per day to 8.32 million barrels per day. In the meantime, gasoline output surged, averaging 9.3 million barrels per day, and total domestic gasoline stocks increased from 237.7 million barrels to 243.6.

WTI increased $2.54 to end the official trading session on Wednesday at $80.04 per barrel. Crude oil stocks dropped by 2.0 million barrels over the previous week, according to the EIA. U.S. crude oil stocks are around 6% lower than the five-year average for this time of year, at 412.7 million barrels.

Next steps:

According to AAA-The Auto Club Group spokesperson Adrienne Woodland, “Michigan drivers are seeing higher prices at the pump this week.” “If crude oil prices continue to rise, gas prices will likely follow suit.”

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The Source: AAA supplied the information for this story.