Gas price tick up in Michigan ahead of Fourth of July holiday

(FOX 2) - Gas prices rose another couple of cents in Michigan ahead of the Fourth of July holiday.

It'll cost drivers about $3.54 a gallon for regular unleaded gasoline on average in the state. It's 2 cents less than this time last month but up 2 cents from a week ago.

According to AAA, it'll cost about $53 to fill up a 15-gallon tank of gasoline.

The auto club group out of Dearborn reports that despite demand slipping slightly in the global energy market, oil prices did tip up last week, signaling to the Energy Information Administration that demand may be higher than anticipated this year.

However, price increases have been capped over worries of a recession occurring later this year due to rising interest rates.

"Michigan gas prices held steady over the holiday weekend, seeing only a slight increase ahead of July 4th," said Adrienne Woodland, a spokesperson for AAA. "Despite the slight increase in pump prices, Michigan drivers are still paying $1.42 less than this time last year."