DETROIT - Michigan's statewide average daily gas price rose above the $3 mark for the first time in nearly three years as the state experiences the biggest weekly gas price hike in the nation, AAA reports.
The last time the statewide average rose above the $3 mark was in August of 2015, according to AAA Michigan. Michigan’s current daily statewide average is about $3.02 per gallon, about 14 cents more than last week’s average and about 63 cents more than this same time last year.
Metro Detroit’s current average also hit the $3 per gallon mark on Wednesday. That’s about 10 cents more than last week’s average and about 63 cents more than this same time last year.
Of the 10 Michigan metro areas surveyed by AAA for self-serve unleaded fuel prices, the lowest average price can be found in the Marquette area, where it’s about $2.93 a gallon. The highest average price can be found in the Saginaw/Bay City/Midland area where it’s about $3.06 a gallon.
According to the latest reports from AAA:
- 11th in the nation for most expensive average daily gas price
- 1st in the nation for the biggest change in average weekly gas price (+14)
Factors contributing to price increases at the pump
- Increased crude oil prices
- Increased demand as summer driving season begins
- Switch over to the more-expensive-to-produce summer blend gasoline
- Regional gasoline inventories have steadily declined
Copyright 2018 by WDIV ClickOnDetroit - All rights reserved.