News Fuel

Add Article to My Briefcase Print Friendly Version

June 17, 2018
AAA MICHIGAN REPORTS: STATEWIDE AVERAGE DAILY GAS PRICE UP SLIGHTLY
 
GAS PRICE PRIMER
 

 
AAA – The Auto Club Group
Susan Hiltz, Public Affairs Director, Michigan
C: 586.940.0278  slhiltz@aaamichigan.com
 
AAA MICHIGAN REPORTS: STATEWIDE AVERAGE DAILY GAS PRICE UP SLIGHTLY
 
Dearborn, Michigan (June 17, 2018) -- AAA Michigan reports that compared to last week, the statewide average daily gas price has increased slightly. Michigan’s current daily statewide average is about $3.03 per gallon, about 2 cents more than last week’s average and about 70 cents more than this same time last year. 
 
Compared to last week, Metro Detroit’s average daily gas price has increased slightly. Metro Detroit’s current average is about $3.03 per gallon, about 1 cent more than last week’s average and about 67 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 $2.91 a gallon. The highest average price can be found in the Ann Arbor area for the seventh week in a row, where it’s about $3.08 a gallon. 
 
According to the latest reports from AAA:
 
State
Michigan ranked:
  • 13th in the nation for most expensive average daily gas price
     
    Regional
  • The majority of states in the Great Lakes and Central region are seeing cheaper gas prices.
  • Inventory levels continue to hold slightly above the 52 million bbl mark.
  • According to the latest data released by the EIA, this is the lowest inventory levels of the year for the region and about 2.6 million bbl below levels at this time last year.
National

  • Price drops continue at the pump.
  • Many states are continuing to see their averages for regular unleaded gasoline drop slightly or stabilize due to supply and demand for gasoline being in balance after increased volatility over the past few months.
  • The trend could reverse after the Energy Information Administration’s (EIA) report estimates that gasoline demand hit an all-time high.
  • Registering at 9.88 million b/d, the consumer gasoline demand rate is the highest weekly estimate on record since EIA began tracking it.
  • The last time gas demand was estimated to be this high was this past mid-April – when it hit 9.86 million b/d.
  • The EIA’s latest reading  is signaling that motorists are embracing the summer driving season. 
  • If demand continues to trend higher, drivers may see prices spike at the pump.
 

 
Global

  • Oil prices have trended marginally higher because of a stronger dollar.
  • According to EIA’s latest petroleum status report, total U.S. production jumped to around 10.9 million b/d, up about 100,000.
  • Total crude inventories fell by 4.1 million bbl.
  • The drop was supported by increasing crude exports.
 


Regular Unleaded Gas
Current and Past Price Averages
Sunday Week Ago Year Ago
National 2.898 2.923 2.301
Michigan 3.036 3.015 2.333
Ann Arbor 3.082 3.050 2.381
Benton Harbor 3.014 2.984 2.216
Flint 3.042 2.983 2.261
Grand Rapids/Muskegon/Holland 3.045 3.013 2.315
Jackson 3.067 3.050 2.353
Lansing/E. Lansing 3.063 3.015 2.267
Marquette 2.911 2.942 2.223
Metro Detroit 3.038 3.028 2.363
Saginaw/Bay City/Midland 3.069 3.035 2.312
Traverse City 2.961 2.937 2.341
         

 
 
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, June 24,  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 9.5 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 58 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.


< back

Related Assets 


Other articles in Fuel: