Michigan gas prices set new 2023-high

DEARBORN, Mich. (FOX 2) - High gas prices climbed even higher in Michigan as the price for a gallon set a new high for 2023.

It's the second consecutive week of Michigan's gas prices hitting a new annual high after costs rose another 15 cents to $3.91 a gallon. It's 44 cents higher than this time last month.

Remarkably, it's still 4 cents less than this time last year, which stands out due to fuel costs surging during the onset of Russia's invasion into Ukraine.

Motorists are now paying an average of $58 to fill a 15-gallon tank of gas. Costs could rise even further, AAA says.

"Gas prices across Michigan continue to rise, reaching another milestone for high prices this year," said Adrienne Woodland, spokesperson for AAA. "If gas demand remains high, alongside increasing oil prices, drivers should brace for increases in pump prices."

The Energy Information Association found that demand rose last week while available gas stocks fell. 

MORE: You can also blame excessive heat for oil's costly rise

Part of the cause for higher gas prices beyond just supply and demand is market optimism that oil consumption will remain high for the remainder of 2023 and into 2024. OPEC also says it's expecting demand to increase to 2.25 million barrels per day next year. 

In Metro Detroit, the current average for gas is $3.87 per gallon.