Michigan's gas prices down 11 cents from last week
Gas prices in Michigan are down 11 cents a gallon from this time last week, AAA-The Auto Club Group reports.
Michigan drivers are now paying an average of $3.04 gallon for regular unleaded gas. This is 7 cents less than this time last month and 68 cents less than this time last year.
A 15-gallon tank of gasoline costs about $45 at that price range.
"Gas prices in Michigan are down, with many motorists across the state seeing prices below $3 a gallon," said Adrienne Woodland, spokesperson, AAA-The Auto Club Group.
That being said, Metro Detroit's average gas prices are $3.07 a gallon. This is about 4 cents less than last week and 58 cents less than the same time last year.
The most expensive gas prices in the state this week are in Ann Arbor with an average $3.11 a gallon; the least expensive gas prices are in Benton Harbor with an average $2.95 a gallon.
According to new data from the Energy Information Administration (EIA), gasoline demand increased from 8.46 million b/d to 9.41. Total domestic gasoline supply decreased from 234.0 million barrels to 229.5. Gasoline production increased, averaging 10.1 million barrels per day.
At 443.1 million barrels, U.S. crude oil inventories are about 5% below the five-year average for this time of year.
