DETROIT (WWJ) - Michiganders are expected to hit the road in droves to reach their holiday destinations this weekend, whether it be up north or out-of-state -- but while the prospect of three days off excites many, the price to fill up your gas tank probably won't.
As travelers head out in record numbers, AAA reports the national average price for a gallon of gas -- which is currently $3.83 -- is now neck-and-neck with the record high for price for gas on Labor Day.
But, there is some good news.
“With visits to the pump rather flat and the price of oil hovering around the $80 per barrel mark, the national average for a gallon of gas will likely stay where it is through this holiday weekend,” said Andrew Gross, AAA spokesperson. “Hurricane Idalia may cause regional price jumps due to station damage, flooded roads, and power outages, but as in past years, these things are usually fixed in a few weeks.”
The average price of a gallon of gas in Michigan is $3.71, which is up from a month ago where it cost $3.66. Last Labor Day, drivers had to shell out over 10 cents more at $3.85 per gallon.
According to new data from the Energy Information Administration (EIA), AAA reported that demand for gas had a slight increase from 8.91 to 9.07 million b/d last week. At the same time, total domestic gasoline stocks took a slight step back to 217.4 million bbl.
"Although demand has increased, fluctuating oil prices have limited pump price increases," AAA said.
The national average reported on Friday is seven cents more than a month ago and two cents less than this time last year.