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January 02, 2018
AAA MICHIGAN REPORTS: STATEWIDE AVERAGE DAILY GAS PRICE UP EIGHT CENTS
AAA MICHIGAN REPORTS: STATEWIDE AVERAGE DAILY GAS PRICE UP EIGHT CENTS
 
Dearborn, Michigan (January 2, 2018) -- AAA Michigan reports that the statewide average daily gas price increased about 8 cents. Michigan’s current daily statewide average is about $2.68 per gallon, about 8 cents more than last week’s average and about 16 cents more than this same time last year.
 
Metro Detroit’s average daily gas price increased about 4 cents. Metro Detroit’s current average is about $2.67 per gallon, about 4 cents more than last week’s average and about 20 cents more than this same time last year.
 
Of the ten Michigan metro areas surveyed by AAA for self-serve unleaded fuel prices, the lowest average price can be found in the Marquette area, where it’s about $2.60 a gallon. The highest average price can be found in the Jackson area, where it’s about $2.73 a gallon. 
 
According to the latest reports from AAA:
 
State
Michigan ranked:
  • < >in the nation for most expensive average daily gas price< >in the nation for biggest change in weekly average daily gas price (+8 cents)< >in the nation for biggest change in monthly average daily gas price (+23 cents)Across the region, gas prices have increased.
  • Michigan is selling the most expensive gas in the region.
  • With a 259,000 bbl. add, gasoline inventory sits at 48.1 million bbl., according to the EIA (week ending Dec. 22).
  • The last time the region had inventory less than 50 million bbl. at the end of the year was in 2010.
National

  • The national gas price average is the most expensive seen at the start of a new year since 2014, when gas prices were more than $3/gallon.
  • High travel volumes over the holidays drove gas prices up.
  • Pump prices shot up over the holidays.
  • With the holiday season ending, motorists can expect gas prices to trend cheaper this month as we are likely to see a significant drop in gasoline demand.
  • The latest Energy Information Administration (EIA) report measures gasoline demand at a strong 9.5 million b/d, which is typical of the holiday season.
  • Historical data shows that in early January demand typical drops and stays below the 9 million mark for the first few months of the year.
Global

  • Moving into 2018, prices are expected to continue rising as OPEC’s production reduction agreement will remain in place for the entirety of 2018.

  • 2017’s increasing oil prices, especially in the fourth quarter, led to increased investment in production and drilling.
    • This allowed the U.S. to reach its highest crude production level since April 1971.
    • This represents a roughly 10 percent gain from the same month in 2016 and a 167,000 b/d increase from September 2017.
  • For 2018, U.S. crude production is expected to hit 10 million b/d for the first time ever, helping the country to meet domestic demand and expand its export prowess to countries that have growing energy demands around the globe.

 
 
 
 
 
 
 

Regular Unleaded Gas
Current and Past Price Averages
Tuesday Week Ago Year Ago
National 2.486 2.444 2.347
Michigan 2.686 2.602 2.521
Ann Arbor 2.701 2.643 2.532
Benton Harbor 2.683 2.570 2.548
Detroit 2.670 2.622 2.465
Flint 2.706 2.580 2.516
Grand Rapids/Muskegon/Holland 2.701 2.585 2.554
Jackson 2.730 2.613 2.508
Lansing/E. Lansing 2.695 2.579 2.516
Marquette 2.603 2.611 2.223
Saginaw/Bay City/Midland 2.677 2.566 2.538
Traverse City 2.671 2.582 2.533
         

 
 
Gas Price Survey Methodology
Every day up to 130,000 stations in the nation and more than 4,200 stations in Michigan are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline. 
AAA updates fuel price averages daily at www.GasPrices.AAA.com.
The next Gas Price Primer will be emailed on Sunday, January 7, 2018
 
Web Tools
Daily Gas Prices-Michigan
Daily Gas Prices-National
Gas Cost Calculator
Mobile App

 

 
AAA in Michigan celebrated its 100th Anniversary - A Century of Service in 2016 and has over 1.4 million members across the state. It is part of The Auto Club Group (ACG).  Connect with us on Facebook and LinkedIn.
The Auto Club Group (ACG) is the second largest AAA club in North America.  ACG and its affiliates provide membership, insurance, financial services and travel offerings to over 9 million members across eleven states and two U.S. territories including Florida, Georgia, Iowa, Michigan, Nebraska, North Dakota, Tennessee, Wisconsin, Puerto Rico and the U.S. Virgin Islands; most of Illinois and Minnesota; and a portion of Indiana.  ACG belongs to the national AAA federation with more than 57 million members in the United States and Canada and whose mission includes protecting and advancing freedom of mobility and improving traffic safety. Motorists can map a route, identify gas prices, find discounts, book a hotel, and access AAA roadside assistance with the AAA Mobile app for iPhone, iPad and Android. Learn more at AAA.com/mobile. AAA clubs can be visited on the Internet at AAA.com.

 
 

About The Auto Club Group
The Auto Club Group (ACG) is the second largest AAA club in North America. ACG and its affiliates provide membership, travel, insurance and financial services offerings to approximately 9 million members across 11 states and two U.S. territories including Florida, Georgia, Iowa, Michigan, Nebraska, North Dakota, Tennessee, Wisconsin, Puerto Rico and the U.S. Virgin Islands; most of Illinois and Minnesota; and a portion of Indiana. ACG belongs to the national AAA federation with nearly 55 million members in the United States and Canada and whose mission includes protecting and advancing freedom of mobility and improving traffic safety.

About Auto Club Group Traffic Safety Foundation
Established by AAA – The Auto Club Group in 2010, Auto Club Group Traffic Safety Foundation, Inc. (ACGTSF) is a 501(c)(3) non-profit organization and public charity dedicated to producing a significant and continuous reduction in traffic crashes, injuries and deaths in the communities targeted by its efforts. ACGTSF provides programs, education and outreach to increase public awareness about the importance of traffic safety and improve driving behavior. ACGTSF is funded by voluntary, tax-deductible contributions from organizations and individuals who support ACGTSF’s purpose.


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