Michigan gas prices up as Fourth of July nears

DETROIT (FOX 2) - Gas price averages are up in Metro Detroit as Fourth of July week begins.

According to data from AAA, Michigan drivers are paying $4.10 per gallon for regular unleaded gas, up 9 cents from a week ago. This is 42 cents less than this time last month but still 82 cents more than this time last year.

"Michigan drivers are seeing higher gas prices as we head into a busy Fourth of July travel week," said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. "With ongoing volatility at the pump and prices still above last year, planning ahead can help travelers manage fuel costs. Tools like AAA’s gas cost calculator and mobile app can help drivers find savings and make the most of their holiday budget."

Most expensive gas price averages 

1. Ann Arbor ($4.16)
2. Metro Detroit ($4.14)
3. Jackson ($4.12)

Least expensive gas price averages

1. Marquette ($3.72)
2. Traverse City ($3.98)
3. Flint ($4.04)

Gas demand increases

According to new data from the Energy Information Administration (EIA), gasoline demand increased from 8.73 million b/d to 9.21 million. Total domestic gasoline supply decreased from 215.1 million barrels to 214.2 million. Gasoline production increased last week, averaging 10.1 million barrels per day.

At the close of Friday’s formal trading session, WTI fell $2.69 to settle at $69.23 a barrel. The EIA reports crude oil inventories decreased by 8.3 million barrels from the previous week. At 418.2 million barrels, U.S. crude oil inventories are about 6% below the five-year average for this time of year.

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