Despite decrease in demand, Michigan gas prices rise
DETROIT (FOX 2) - Despite a slight decrease in demand, Michigan gas prices are up 5 cents from last week, according to AAA.
A gallon of unleaded gas is now an average of $3.62. This price is 31 cents more than this time last month and 9 cents more than this time last year. The cost to fill a full 15-gallon tank is now an average of $54, down about $4 from 2023's high in August.
According to new data from the Energy Information Administration (EIA), gas demand dipped slightly from 8.81 to 8.72 million b/d. Meanwhile, total domestic gasoline stocks increased by 1.3 million bbl to 232.1 million bbl. Lower demand would typically contribute to pushing pump prices lower or slowing increases, but rising oil prices have kept them elevated instead.
"Despite the slight decrease in demand, Michigan gas prices are up compared to last week," said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. "Pump prices will likely face upward pressure if gasoline stocks continue to decrease alongside rising oil prices."
Highest gas price averages:
- Jackson ($3.66)
- Benton Harbor ($3.65)
- Grand Rapids ($3.65)
Lowest gas price averages:
- Marquette ($3.52)
- Metro Detroit ($3.58)
- Traverse City ($3.60)