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August 12, 2018
AAA MICHIGAN REPORTS:STATEWIDE AVERAGE DAILY GAS PRICE UP EIGHT CENTS
 
 
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 EIGHT CENTS
 
Dearborn, Michigan (August 12, 2018) -- AAA Michigan reports that compared to last week, the statewide average daily gas price has increased. Michigan’s current daily statewide average is about $3.00 per gallon, about 8 cents more than last week’s average and about 51 cents more than this same time last year. 
 
Compared to last week, Metro Detroit’s average daily gas price has increased. Metro Detroit’s current average is about $3.00 per gallon, about 2 cents more than last week’s average and about 55 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 for the second week in a row where it’s about $2.90 a gallon. The highest average price can be found in the Jackson area where it’s about $3.04 a gallon. 
 
According to the latest reports from AAA:
 
State
Michigan ranked:
  • 13th in the nation for most expensive average daily gas price
  • 3rdin the nation for biggest change in average daily gas price compared to last week. (+8)
     
    Regional
  • Gasoline inventories continue to tighten in the region.
  • Total inventories recently registered at the 51 million bbl mark.
  • While this is the region’s lowest measurement for the year, it is on par with levels last year at this time, according to EIA data.
National

  • Gas prices are stabilizing as demand drops.
  • Pump prices around the country have mostly stayed flat, signaling that supply and demand remain largely in sync.
  • Prices may take a dip after the latest petroleum report from the Energy Information Administration (EIA) showed that demand fell.
  • Should demand figures trend lower in coming weeks, pump prices could be poised for a slight downturn.
  • EIA also reported that total gasoline stocks in the country grew, which could support lower pump prices amid decreasing demand.

 
 

Global

  • Crude prices saw a brief uptick before retreating following U.S.-imposed sanctions on Iran.
  • This round of sanctions targeted Iran’s financial sector, which raised geopolitical concerns in the region that added to the price of crude.
  • The next round of sanctions, currently scheduled to take effect in November 2018, will target Iran’s energy sector, including its crude exports.
  • If those sanctions take effect, crude prices will likely surge over an expected reduction in crude exports from Iran and increased tension in the region that could destabilize global crude flows
 


Regular Unleaded Gas
Current and Past Price Averages
Sunday Week Ago Year Ago
National 2.860 2.867 2.356
Michigan 3.004 2.923 2.494
Ann Arbor 3.033 2.998 2.495
Benton Harbor 2.959 2.887 2.483
Flint 2.984 2.854 2.498
Grand Rapids/Muskegon/Holland 2.996 2.828 2.512
Jackson 3.047 2.895 2.449
Lansing/E. Lansing 3.001 2.865 2.495
Marquette 2.994 2.983 2.445
Metro Detroit 3.001 2.975 2.448
Saginaw/Bay City/Midland 3.022 2.878 2.492
Traverse City 2.902 2.863 2.473
         

 
 
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, August 19, 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.


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