News Fuel

Add Article to My Briefcase Print Friendly Version

September 09, 2018
AAA MICHIGAN REPORTS: STATEWIDE AVERAGE DAILY GAS PRICE UP SIX 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 SIX CENTS
 
Dearborn, Michigan (September 9, 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 $2.92 per gallon, about 6 cents more than last week’s average and about 21 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 $2.92 per gallon, about 1 cent more than last week’s average and about 29 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 $2.76 a gallon. The highest average price can be found in the Ann Arbor area for the third week in a row where it’s about $2.96 a gallon. 
 
According to the latest reports from AAA:
 
State
Michigan ranked:
  • 15thin the nation for most expensive average daily gas price
  • 2nd in the nation  for biggest change in average daily gas price compared to last week (+6  cents)
  • 1st in the nation for biggest change in average daily gas price compared to last month(-10 cents)
     
    Regional
  • Gas prices continue to be volatile in the Great Lakes and Central states.
  • While some states in the region saw slight increases at the pump, most states are seeing cheaper pump prices.
  • This will likely be the trend for the region in coming weeks as gasoline demand is expected to level off.
  • Despite a draw in inventory, regional levels remain at a healthy nearly 53 million bbl – which is helping to keep most gas prices down.
  • The EIA reports that total levels are on par with this time last year.
National

  • Gas prices remain relatively flat.
  • Recent Energy Information Administration (EIA)petroleum status report reflected high refinery utilization rates adding to current gasoline inventories.
  • They are about 7% above the five-year average for this time of year. 
  • Refineries are operating at 96.6% of their operable capacity and appear to be pumping out product ahead of the fall maintenance season and switchover to winter blend gasoline

Global

  • Crude oil futures are lower following the release of EIA’s report that revealed gains in refined gasoline products and continued decline in crude oil stocks.
  • Market watchers are paying close attention to increased U.S. production and tightening domestic crude supplies, as rising tensions in Syria, Iran and Venezuela threaten the availability of crude in the international oil market.
  • If gasoline inventories continue to rise, the oversupply could weigh down the crude oil market and pump prices could decrease in reaction.
  • One factor that may stall decreasing prices is the threat of tropical storms forming in the Atlantic.
  • AAA will continue to monitor the storm and will provide updates and information as warranted.
 


Regular Unleaded Gas
Current and Past Price Averages
Sunday Week Ago Year Ago
National 2.847 2.837 2.672
Michigan 2.928 2.865 2.711
Ann Arbor 2.969 2.937 2.730
Benton Harbor 2.909 2.813 2.709
Flint 2.906 2.775 2.730
Grand Rapids/Muskegon/Holland 2.919 2.793 2.745
Jackson 2.946 2.863 2.729
Lansing/E. Lansing 2.921 2.804 2.751
Marquette 2.948 2.933 2.678
Metro Detroit 2.929 2.911 2.639
Saginaw/Bay City/Midland 2.947 2.795 2.731
Traverse City 2.768 2.786 2.768
         

 
 
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, September 16, 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 9.6 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 59 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. Visit AAA 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: