Michigan gas prices tick up 2 cents, but more more falling costs could be on the way
DEARBORN, Mich. (FOX 2) - Michigan's long honeymoon of falling gas prices appears to be over after the cost ticked up an average of 2 cents a gallon from a week ago.
A chaotic summer for energy costs saw both a record-high of gas prices and several months in a row of them falling. Currently, drivers are paying $3.85 a gallon for regular unleaded fuel in Michigan, about 11 cents less than last month.
It's still more expensive than last year when gas was 67 cents less.
It'll cost drivers about $57 to fill a 15-gallon tank this week, which is about $6 more than 2021's highest price.
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The Energy Information Administration reports that gas demand has increased slightly while stocks also ticked up a bit. Concerns over falling demand have steadily grown with economic forecasts predicting a potential recession in countries around the world.
It may mean more decline in gas prices.
"While a few metro areas in the state saw gas price decreases many others saw increases, leading to a week over week increase in the Michigan state average for the first time in over 2 months," said Adrienne Woodland, spokesperson, AAA Group. "If gasoline demand begins to subside, as it typically does post-Labor Day, pump prices may likely decrease."
Compared to last week, Metro Detroit’s average daily gas price decreased. Metro Detroit’s current average is $3.94 per gallon, about 4 cents less than last week’s average but still 67 cents more than this same time last year.
- Most expensive gas price averages: Metro Detroit ($3.94), Ann Arbor ($3.93), Traverse City ($3.89)
- Least expensive gas price averages: Grand Rapids ($3.73), Benton Harbor ($3.76), Flint ($3.78)