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Mar 4, 2024 · The agency reports prices jumped 20 cents from last week to an average of $3.45 per gallon. That's 45 cents more than this time last month and 4 cents more than this time last year. In...
May 10, 2022 · 1:01. Increasing demand for gasoline and rising oil prices continue to push prices at the pump higher across the U.S., and especially in Michigan. The Detroit News is keeping track of average...
- Why Do Gas Prices Fluctuate?
- Why Did Gas Prices Increase So Much This Year?
- OK, Why Are Michigan's Gas Prices Among The Highest in The Nation?
- How High Did Gas Prices Get in Michigan This Year?
- What Is A Gas Tax Holiday?
- Can Drivers Expect Gas Prices to Go Down Soon?
The cost of crude oil, refinery processing, distribution, marketing and taxes impact gas prices. The price drivers pay at the pump reflects those costs as well as profits that refiners, marketers, distributors, and retail stations seek. Gas prices fluctuate when disruptive events, such as war or increased demand, impact oil and gas supplies.
Matthew Ross, a Western Michigan University assistant professor of finance, said the two main drivers of this year's high gas prices are the war and capacity limits. Ross said that Russia is a significant exporter of crude oil and refined petroleum. And the European Union, United States and Canada’s sanctions on Russia for invading Ukraine impacted...
Michigan and other Midwest drivers are paying more at the pump for several reasons. A refinery in Ohio from which Great Lakes states import fuel caught fire two weeks ago, said AAA spokesperson Adrienne Woodland. "That's what initially sent prices up," Woodland said. Crude oil prices — which comprise about 50 percent of the cost drivers see at the ...
President Joe Biden announced a U.S. ban on Russian oil in response to the deepening conflict between Russia and Ukraine. Afterward, gas prices soared to a record-high $5.22 per gallonfor unleaded gas on June 11. After that high, Michigan's gas pricesdeclined for 10 straight weeks.
On June 22, President Biden urged Congress and governors to temporarily suspend their excise taxes on gas, giving consumers a gas tax holiday. "Many states, including Florida, most recently, have already seen (gas tax holidays) go into effect and reduce prices," Peterson said. Some Michigan lawmakers tried to pass legislation pausing the state's ga...
"We're at the point where we have to wait and see where demand goes within the next week," said AAA’s Woodland. Fuel demands are typically lower in the fall than during summer travel season. However, Woodland said, refinery capacity and oil supplies would need to increase to drive prices back down.
- Zahra Ahmad
Aug 17, 2022 · The map below displays current prices for gas in 10 metro areas in Michigan and provides prices from a week ago and a year ago for comparison.
6 days ago · County average gas prices are updated daily to reflect changes in price. For metro averages, click here.
1 day ago · County average gas prices are updated daily to reflect changes in price. For metro averages, click here.
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Sep 23, 2022 · In Michigan, a gallon of regular unleaded gasoline costs an average of $3.88 heading into the weekend. That's up about seven cents in the last week and is about even from prices one month ago.
