Gas spikes to another all-time high in Michigan; Metro Detroit gas prices surge to $4.30 a gallon
DEARBORN, Mich. (FOX 2) - Michigan's gas prices surged again last week, spiking to a new all-time high after soaring 28 cents.
Drivers are now paying $4.32 a gallon for regular unleaded gas, which comes out to about $64 for a full-15 gallon tank of gasoline. AAA says a slight jump in demand for gas is behind the push.
Among the driving reasons for higher demand is the European Union's announcement they planned to ban all Russian oil imports within six months, a major policy decision for the collective of nations that seeks to punish the country for its invasion of Ukraine.
However, the appetite for ending gas purchases may not be uniform across some of the union's more eastern nations that have a larger reliance on gas coming from Russia.
Metro Detroit's new average daily gas price reached $4.30, its highest ever and 24 cents more than last week. It's almost $1.34 more than last year.
Outside of Southeast Michigan, gas prices were even higher in Marquette at $4:30 a gallon, Lansing and Saginaw at $4.35, while prices were lowest on average in Traverse City - at $4.26 a gallon.
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What is sure is based on global crude's tight supplies and the search for alternatives to Russian oil, prices will remain volatile and likely high, AAA said.
"Tight gasoline stocks in the Midwest, coupled with rising demand and high crude oil prices sent Michigan gas prices soaring to a new record high," said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. "Pump prices will likely face upward pressure as oil prices remain above $105 per barrel."