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February 11, 2018
AAA MICHIGAN REPORTS: STATEWIDE AVERAGE DAILY GAS PRICE DROPS A DIME

 
Dearborn, Michigan (February 11, 2018) -- AAA Michigan reports that the statewide average daily gas price decreased about ten cents. Michigan’s current daily statewide average is about $2.57 per gallon, about ten cents less than last week’s average and about 25 cents more than this same time last year.
 
Metro Detroit’s average daily gas price decreased about 4 cents. Metro Detroit’s current average is about $2.57 per gallon, about 4 cents less than last week’s average and about 35 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 Traverse City area, where it’s about $2.43 a gallon. The highest average price can be found in the Marquette area for the second week in a row, where it’s about $2.72 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 (-10 cents)Gas prices have been less volatile than we have seen in the Great Lakes and Central region since the start of the year.
  • Gasoline inventory bumped up 875,000 bbl to push levels to 56 million bbl.
  • The last time inventory was this high was April 2017, according to the EIA.
  • Regional refinery utilization rates recently increased to 92 percent.
  • Previous week’s rate was the lowest since mid-November.
National

  • Gas prices have mostly held flat, signaling that the unusual price increases seen this winter may have stalled out for the remainder of the season.
  • According to the Energy Information Administration (EIA), gasoline stocks grew by 3.4 million bbl last week (to 245.5 million bbl), which is almost 11 million bbl lower than the level at the same time last year.
  • High demand for gasoline, which hit 9.11 million b/d last week, has helped to reduce stocks and push pump prices higher.

Global

 
 

  • Price gains made throughout January have been wiped away after trading this past week.
  • This price downturn occurred while the dollar, which is on track to have its best week since December 2016, continued to strengthen, and EIA’s latest weekly petroleum status report showed that U.S. production of crude oil surged to 10.25 million b/d – a new record for weekly production.
  • The previous records, which were established in October and November 1970, are approximately 200,000 b/d lower than the new record.
  • Increased production has resulted in U.S. crude oil inventories swelling by 1.9 million bbl. If the price of crude continues to drop, it may put some downward pressure on gas prices in the months ahead.

 
 


Regular Unleaded Gas
Current and Past Price Averages
Sunday Week Ago Year Ago
National 2.583 2.604 2.279
Michigan 2.572 2.672 2.315
Ann Arbor 2.636 2.683 2.282
Benton Harbor 2.558 2.692 2.335
Flint 2.510 2.678 2.360
Grand Rapids/Muskegon/Holland 2.547 2.719 2.376
Jackson 2.635 2.733 2.364
Lansing/E. Lansing 2.503 2.677 2.338
Marquette 2.721 2.731 2.223
Metro Detroit 2.579 2.628 2.221
Saginaw/Bay City/Midland 2.542 2.721 2.377
Traverse City 2.437 2.682 2.356
         

 
 
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, February 18, 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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