Does it seem like you're paying more for gas than you have in a long time? It's true. Gas prices in Michigan declined slightly after setting a new post-2019-high of $2.85 on Thursday.
Michigan drivers are now paying an average of $2.84 per gallon for regular unleaded, which is up 13 cents compared to last week. This price is 11 cents more than this time last month and $1.21 more than this time last year.
Motorists are paying an average of $43 for a full 15-gallon tank of gasoline; an increase of about $4 from when prices were their highest last January.
According to EIA’s weekly report released Wednesday, Midwest gasoline stocks dropped 2.4 million bbl, to 49.5 million bbl for the week ending March 26, sending inventories to their lowest levels since December 2020. With that downturn, gasoline stockpiles are nearly 8.5 million bbl behind year-ago levels and about 7.40 million bbl below the five-year average. Gasoline production scaled up last week as did refinery utilization.
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“Tightening supplies helped Michigan drivers see a spike in pump prices last week” said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. “After hitting a new 2019-high on Thursday, Michigan gas prices have slowly declined over the past few days.”
Compared to last week, Metro Detroit’s average daily gas price increased. Metro Detroit’s current average is $2.83 per gallon, about 10 cents more than last week’s average and $1.19 more than this same time last year.
Click here to view AAA's state and metro gas averages