Michigan gas prices hit new high; drivers paying $65 to fill up 15-gallon tank

The hits keep coming at the gas pump as Michigan again set a new record high for oil prices. Michigan drivers are now paying $4.38 per gallon for regular gas

That's another 5 cents higher from a week ago, which is 48 cents more than last month. 

The total pain in dollar signs comes at about $65 for a full 15-gallon tank of gas, about $14 higher than when gas prices were last at their highest in November.

Global tensions are behind the uncertainty that's driving up the cost of gasoline, despite an increase of supply and decrease in demand locally. 

"Despite the slight decrease in demand, Michigan gas prices continue to increase, setting a new record high," said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. "Pump prices will likely face upward pressure if gasoline stocks continue to decrease and oil prices remain above $105 per barrel."

Russia is again the source of tension as the European Union continues to coalesce around a protective stance against the country. Finland and Sweden also recently announced their intention to join NATO, which Russia considered an act of aggression.

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China's zero-Covid policy, which features stringent lockdowns and is considered more severe than most other country's responses, is also driving up market concern about crude demand. 

Northern Michigan was the most expensive place to find gas, hitting $4.49 a gallon in Marquette. Metro Detroit hit $4.44 a gallon, and Ann Arbor is at $4.41.

The lowest prices were in Traverse City, reaching on average $4.21 a gallon.