Michigan gas prices hit $3.55 a gallon on average - the highest since November

DEARBORN, Mich. - Metro Detroit gas prices jumped 14 cents in a week, tracing along escalating global tensions and Russia's invasion of Ukraine. 

The price of a gallon of gas sits at $3.54 at Detroit-area gas stations, which remains some of the least expensive prices in Michigan but not by much. The most expensive gallon of gas was reported in Saginaw at $3.58.

Motorists would be paying about $53 to fill up a 15-gallon tank of gas - the highest rate since last November and 33 cents higher than in January.

The shaky axis of geopolitics continues to push uncertainty, as well as dimming supply into the oil economy. Russia is one of the world's largest exporters of gasoline. But with many countries ordering businesses to not finance projects from Russia while governments agreed to kick the country off a popular international payment system, it is likely to destabilize flows of crude oil.

Domestic gas stocks fell by 600,000 barrels, according to the Energy Information Administration. Meanwhile, demand rose by slightly less than 10 million barrels. The two competing pressures will drive the price of gas up in Michigan. 

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"Surging oil prices have put upward pressure on Michigan pump prices pushing them to the highest prices since September 2014," said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. "If crude prices continue to climb, pump prices will likely follow suit."