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Gas prices surge to $5 mark in Metro Detroit
Some gas stations in the the Detroit area have flown by the state average Thursday morning.
DETROIT (FOX 2) - Sticker shock at the pump continues as Michigan gas prices jumped 21 cents overnight.
The average cost of a gallon of gas is up to $4.75 – up from $4.54 yesterday, according to Triple-A Michigan.
This morning, the prices in Metro Detroit were even steeper.
Michigan gas prices
FOX 2 was on Dequindre in Madison Heights where a Shell station was priced at $5.04 per gallon with regular credit, $4.94 with cash.
Last year at this time, the price was at $3.19 a gallon with diesel fuel well over $6.50, hitting an all-time high.
The national average jumped .13 cents in one week.
How High Can Michigan Gas Go?
The scary question looming over the high gas prices is that the rise may not be done.
Governor Gretchen Whitmer and state leaders could suspend the gas tax, which would save .52 cents per gallon, but there has been no movement on that front.
Utah, Indiana and Georgia have fully or partially suspended state gas taxes, but lawmakers in Michigan aren't budging.
Patrick De Haan, who covers gas prices for GasBuddy, warned the spike was not done. Posting updates on social media, he said diesel prices had shown "no signs of slowing" following the record they just set.
He said a 48-hour spike is expected in the states located in the middle of the country.
Why Michigan Gas Prices Are So High
The main reason for high costs at the pump is the unrest in the Middle East powered by the US-Iran conflict.
Volatility in the Strait of Hormuz has raised the price of crude oil back into the $100 per barrel range for the first time since July.
Michigan's 52.4 cents gas tax is sixth-highest in the nation, with a portion going toward road improvements.
How can I save on fuel?
Naturally, vehicles with better fuel economy will do better on saving gas. But there are other options available.
Dig deeper:
- Drive slower — especially on the highway. Fuel economy drops off steeply after hitting 50 mph.
- Easing onto the accelerator can also reduce fuel consumption.
- Extended idling can be a big waste of gasoline.
- Give yourself extra space from the vehicle in front of you. That way, when approaching stoplights or traffic, the driver can anticipate slowing down in traffic and spend less time on the accelerator.
- This might be a tough one, but air conditioning can also use up more gasoline.
- Plan errands ahead of time to be more efficient with your drive.
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The Source: Information for this report is from previous coverage, today's live reports from Metro Detroit and Triple-A Michigan.