DEARBORN — Gas prices in Michigan are up 11 cents compared to last week. Michigan drivers are now paying an average price of $2.57 per gallon for regular unleaded. This price is 2 cents more than this time last month and about 22 cents more than this time last year.
Motorists are paying an average of $39 for a full 15-gallon tank of gasoline; a discount of $8 from when prices were their highest last May.
Total domestic gasoline stocks grew for the fourth straight week, according to new data from the Energy Information Administration (EIA). Stock levels increased by 3.4 million bbl, bringing the total to 229.4 million bbl, which is 3.1 million bbl higher than last year’s level at this same time. In EIA’s latest weekly report, gasoline demand dropped from 9.20 million b/d to 9.03 million b/d, which is slightly higher than last year’s 8.88 million b/d during the same week.
Compared to last week, Metro Detroit’s average daily gas price increased slightly. Metro Detroit’s current average is $2.58 per gallon, 3 cents more than last week’s average and 24 cents more than this time last year.
Most expensive gas price averages: Ann Arbor ($2.62), Metro Detroit ($2.58), Lansing ($2.57)
Least expensive gas price averages: Traverse City ($2.40), Jackson ($2.51), Saginaw ($2.51). — G.G.