Good news for drivers. The the statewide average weekly gas price is unchanged from the previous week, according to AAA of Michigan.
Michigan’s current statewide average is about $1.91 per gallon, the same price as last week’s average and about one cent less than this same time last year.
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Metro Detroit’s current weekly gas price average is about $1.90 per gallon.
Of the ten Michigan metro areas surveyed by AAA for self-serve unleaded fuel prices, the lowest average price can be found in the Lansing/East Lansing area where it’s about $1.85 per gallon.
For the fifth week in a row, the highest average price can be found in the Marquette area where it’s about $1.96 a gallon.
For the sixth week in a row, the average gas price in all ten Michigan metro areas remains below $2 and the below the national average.
Heading into 2016, the national average is expected to continue to drop because supply should continue to outpace demand.
Gas prices typically fall during this time of year as demand for gasoline decreases. Oversupply continues to characterize the global oil market.
The impact of parity between crude oil benchmarks is now being discussed based on its ability to impact both domestic production and the global energy landscape.
AAA Fuel Forecast
Based on typical seasonal trends, the national average price of gas could remain flat, or drop another 10 cents per gallon over the next few weeks.
By late winter, the national average could rise 50 cents per gallon or more as refineries conduct seasonal maintenance in advance of the summer driving season.
But, AAA does not expect the national average price of gas to rise above $3 per gallon in 2016.
Regional gas prices will continue to vary dramatically around the country in 2016.
Problems with local refinery production, especially during spring maintenance and the summer driving season, could temporarily send regional gas prices much higher than the national average.
Events like this could cause prices in some areas to rise above $3 per gallon, just as they did in 2015.
The potential cost of crude oil in 2016 is uncertain, though most analysts expect the market will remain oversupplied throughout the year.
Some analysts have predicted that low prices will significantly limit oil production in the United States and in other higher-cost production countries, which could allow supply and demand to re-balance by the end of 2016.