DETROIT (FOX 2) - Gas prices in Michigan have reached their highest point since October of 2014, with drivers paying over a dollar more than a year ago.
Michigan drivers are paying an average of $3.17 per gallon of unleaded gasoline, according to the American Automobile Association. That's up $1.06 compared to this time last year.
The Energy Information Administration (EIA) showed that gas demand dropped by 670 million barrels a day while the gas supply increased by 7 million barrels (bbl).
Usually, this fluctuation in supply and demand results in lower prices for Michiganders, but the price of crude oil is making citizens pay more.
"If domestic crude prices remain high, motorists will likely continue to see pump prices fluctuate through the end of the month." said Adrienne Woodland, spokesperson of AAA-The Auto Club Group of Dearborn.
The reasons for this are many; A recent EIA report told consumers that the national supply of oil has decreased by nearly 1%, while prices rose 5% in May. The United States market is concerned that the cost is currently inflated.
Coronavirus vaccine distribution has impacted crude oil. As more citizens get vaccinated, manufacturers believe that the demand for oil will jump and make margins recover.