Gas prices in Michigan have seen a decrease from the previous week, as reported by AAA Michigan. This decline comes after reaching the lowest Labor Day prices in years.
AAA reports that the average price of gasoline in the state has decreased by 4 cents from last week. Currently, the average price stands at $3.36 per gallon. This represents a decrease of 33 cents compared to last month and 34 cents compared to the same time last year.
In metro Detroit, AAA reported a 2-cent drop in gas prices, bringing the average price per gallon to $3.42. This represents a decrease of about 34 cents compared to the same period last year.
“According to GasBuddy Senior Petroleum Analyst Patrick De Haan, gasoline demand typically starts to decline as schools reopen in August. Additionally, in just over two weeks, we will be transitioning to cheaper winter gasoline. As a result, gas prices have reached their lowest levels since Labor Day of 2021. The positive news doesn’t end there. De Haan suggests that gas prices this fall have the potential to approach the sub three-dollar per gallon mark.”
Gas prices in the metro Detroit area are expected to decrease in the fall, offering some relief to motorists. According to experts, the drop in prices can be attributed to a decrease in demand and an increase in supply. This news comes as a welcome relief for drivers who have been dealing with high gas prices throughout the summer months. With the fall season approaching, many are looking forward to the potential savings at the pump. Motorists can expect to see a gradual decline in gas prices as we transition into the cooler months.
Labor Day gas prices reach their lowest point in three years, with the potential for even further decreases.
Gas demand increased and gas stocks decreased last week, as indicated by data from the Energy Information Administration.
“Gas prices are slightly lower for many Michigan motorists, even during the busy Labor Day weekend,” said Adrienne Woodland, spokesperson for AAA-The Auto Club Group. Woodland further noted that if crude oil prices continue to decline and demand remains low, there is a possibility of further decreases in gas prices.
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- Most expensive gas price averages: Jackson ($3.47), Ann Arbor ($3.47), Metro Detroit ($3.42)
- Least expensive gas price averages: Grand Rapids ($3.18), Benton Harbor ($3.20), Flint ($3.32)
