Michigan gas prices continued to tick down slightly after setting a new record of $4.26 per gallon earlier this month. But prices remain near that record high.
AAA Michigan said Monday that Michigan are down 8 cents compared to last week. Michigan drivers are now paying an average of $4.16 per gallon for regular unleaded. This price is still 79 cents more than this time last month and $1.41 more than this time last year.
Motorists are paying an average of $62 for a full 15-gallon tank of gasoline; an increase of about $11 from when prices were their highest last November.
According to new data from the Energy Information Administration (EIA), total domestic gasoline stocks fell by 3.6 million bbl to 241 million bbl last week. Gasoline demand also decreased slightly from 8.96 million b/d to 8.94 million b/d. The drop in gas demand is contributing to price decreases, but the recent reversal in oil prices is creating greater downward pressure on pump prices.
“After a volatile week for the oil markets, Michigan motorists are beginning to see a slight drop in gas prices,” said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. “If oil prices continue to decline, pump prices will likely follow suit.”
Ways to Save on Gasoline
- Combine errands to limit driving time.
- Shop around for the best gas prices in your community.
- Consider paying cash. Some retailers charge extra per gallon for customers who pay with a credit card.
- Remove excess weight in your vehicle.
- Drive conservatively. Aggressive acceleration and speeding reduces fuel economy.
- Enroll in savings programs. Click here for more information on ways AAA Members can save.
You can use the map below to track average gas prices in Michigan by county, updated daily with AAA data: