COST

Many people are canceling the trips they had planned for Memorial Day weekend this year due to record-setting gas prices plaguing Michigan and the rest of the U.S.

The cost of everything seems to be going up and fast.

Michigan Attorney General Dana Nessel is launching an investigation into a drug company that manufactures insulin in the U.S. in an effort to better understand what drives the medication’s high cost.

If you were to buy everything listed during the song “12 Days of Christmas,” it would cost you tens of thousands of dollars.

It’s not just the shortages many of us are worried about -- it’s the rising prices, too.

Homes continue to be listed and sold at break-neck speeds across the U.S., but the market is finally seeing a shift in demand.

Michigan State University will raise tuition by 2% this fall which university officials say will mostly impact students from families earning more than $100,000 each year.

If you’ve tried to get a quote recently to have work done to your home, chances are you have discovered that contractors are busy and in high demand.

Prices for building supplies are at an all-time high across the nation, creating a ripple effect that is impacting home builders and buyers.

Have you noticed that some grocery store items cost a lot more since the pandemic started?

This week we’re taking a look at the cost of a baby vs. the cost of a puppy in the first year in Michigan.

Gas prices in Michigan dropped 4 cents compared to a week ago, AAA Michigan reports Monday. This price is 5 cents less than this time last month but still 97 cents more than this time last year. The national average decreased despite rising gas demand, which increased from 8.44 million b/d to 8.62 million b/d. Crude prices have decreased due to continuing market concern that crude demand will drop as Europe increases restrictions to curb growing coronavirus infection rates. The decrease in crude prices has also been supported by EIA reporting that total domestic crude inventories increased by 1.9 million bbl to 502.7 million bbl.

Costly carsThe Great Lakes State -- the undisputed birthplace of automobile manufacturing -- is the most expensive state for car ownership, according to data from Move.org. It costs about $5,264.58 every year to own a car in the United StatesThe average Michigan resident pays $9,304.28 every year for their car. Look at this stunning gap between Michigan and the next most expensive state to own a car, Florida:That’s a gap of more than $2,000 annually. Compared to this, Michigan’s minimum insurance cost of $5,740 seems incredibly expensive, according to the data. As you probably know by now, car insurance is so expensive in Michigan because the state requires the most expensive minimum coverage levels in the country.

The travel industry has taken a big financial hit because fewer people are taking trips during the COVID pandemic. As vaccines become more available the airline industry is preparing to make some changes to boost profits. If you want to travel this summer or later in the year, booking now may be a good idea. As more vaccines are administered, people will be traveling so prices could rise and there could be changes to safety protocols. READ: More travel coverageWatch the video above for the full report.

Cost of shutting down the Portal Bridge Amtrak President Joe Boardman tells Steve Kroft the bridge closure could cost 100 million dollars per day in lost GDP.