Michigan's Gas Prices Reach $5, Hitting New Record Monday

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(CBS DETROIT) -- Michigan's gas Gas prices reached $5 over the weekend, hitting a new state record on Monday.

According to AAA, the state's average gas price is $5.05 a gallon for regular gas, nearly 20 cents over the national average of $4.86. The state average is also $2 more than last year and 74 cents more than last month.

In Metro Detroit, the average price is $5.14, more than $2 this time last year.

Michigan is one of 10 states, plus the District of Columbia, to rise above $5. Other states, mainly on the east coast, are just pennies away from hitting $5 a gallon.

AAA officials say the cost of a barrel of is oil nearly $120, almost doubling from last August due to the increase in oil demand.