Gas prices in Michigan have dropped 12 cents and are at the lowest prices drivers have seen since February.
Drivers are now paying an average of $3.04 per gallon for regular unleaded gas, according to AAA- The Auto Club Group, and a full 15-gallon tank of gas is costing drivers about $45. This is a $13 discount from 2023’s highest gas prices in August.
The current average price per gallon in Metro Detroit is $3.10, which is down about seven cents from last week.
“According to new data from the Energy Information Administration (EIA), gas demand slid from 9.15 million b/d to 8.82. Meanwhile, total domestic gasoline stocks rose from 210.9 million barrels to 211.3, while gasoline production increased, averaging 9.7 million barrels daily,” the release from AAA said.
Crude oil inventories increased by 2.1 million from last week, the EIA reported. U.S. crude oil inventories, at 427.7 million barrels, are about 5% below the five-year average for this time of year.
Most & least expensive gas prices in Michigan
The most expensive gas price averages:
- Ann Arbor ($3.10)
- Metro Detroit ($3.10)
- Marquette ($3.09)
The least expensive gas price averages:
- Flint ($2.93)
- Grand Rapids ($2.97)
- Traverse City ($2.98)
“Michigan gas prices have dropped to the lowest prices since February,” said AAA spokesperson Adrienne Woodland. “If gasoline stocks continue to rise, alongside lower demand, pump prices could drop further.”
