Michigan gas prices spike 28 cents in one week, AAA says
Michigan's gas prices rose 28 cents in one week, according to AAA-The Auto Club Group.
Motorists are now paying an average of $4.31 per gallon for regular unleaded gasoline, up from $4.03 per gallon a week ago. Monday's pricing is 6 cents more than this time last month and $1.04 more than this time last year.
"Michigan drivers are seeing a significant increase at the pump, with gas prices reaching levels we haven't seen since early August," said Adrienne Woodland, spokesperson, AAA-The Auto Club Group.
AAA issues gas price trend reports on Mondays, and maintains a database with daily updates. The jump in prices in Michigan was particularly noticeable on Wednesday, with a 20-cent spike in 24 hours. At the current price point, a 15-gallon tank of gasoline costs about $65 in Michigan.
In the meantime, overall trends continue to point upward. CBS News says the price of Brent crude, which is the international benchmark for oil, reached $108 a barrel early Monday. That is the highest pricing on that scale in almost four months.
"Average gasoline and diesel prices rose in every state over the last week as geopolitical tensions escalated on multiple fronts, with friction between the U.S. and Iran, new hostilities in the Red Sea, and the shutdown of Saudi Arabia's East-West pipeline all combining to jolt prices sharply higher," said Patrick De Haan, head of petroleum analysis at GasBuddy. "The scale of ongoing geopolitical escalations makes meaningful price relief unlikely in the near term. Motorists should brace for continued volatility ahead."
The national average gas price is also sitting at $4.31 as of Monday.
The most expensive gas price averages in Michigan this week are in Ann Arbor ($4.35), Jackson ($4.35) and Lansing ($4.34).
The least expensive gas price averages in Michigan this week are in Traverse City ($4.22), Flint ($4.27) and Metro Detroit ($4.30).
Diesel prices in particular have been closely watched in recent weeks, with the current average national price at $6.23 per gallon, up from $5.90 a week ago and $3.69 per gallon a year ago. Michigan's average diesel fuel price is $6.15 per gallon, up from $5.89 a week ago and $3.66 a year ago.
