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September 16, 2018
STATEWIDE AVERAGE DAILY GAS PRICE REMAINS RELATIVELY FLAT
 
GAS PRICE PRIMER
 
 
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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 REMAINS RELATIVELY FLAT
 
Dearborn, Michigan (September 16, 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 $2.94 per gallon, about 1 cent more than last week’s average and about 38 cents more than this same time last year. 
 
Compared to last week, Metro Detroit’s average daily gas price is unchanged.  Metro Detroit’s current average is about $2.92 per gallon, about the same as last week’s average and about 43 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 $2.75 a gallon. The highest average price can be found in the Ann Arbor area for the fourth week in a row where it’s about $2.97 a gallon. 
 
According to the latest reports from AAA:
 
State
Michigan ranked:
  • 15th in the nation for most expensive average daily gas price
     
    Regional
  • Gas prices remain steady on the week.
  • Compared to one month ago, motorists in every state in the region – except Ohio – are paying less to fill up.
  • Gasoline inventories built slightly on the week to register at 53.1 million bbl, which is the largest inventory level recorded for this time of year since 2008.
  • With demand expected to continue declining, and taking into account high inventory levels, motorists in the region can expect prices to steadily decline this fall.
National

  • National average holds steady as Hurricane Florence makes landfall
  • With Hurricane Florence just beginning to batter the Carolinas, gas prices have not seen much movement.
  • Unlike the Gulf Coast, which is home to dozens of refineries, the Carolinas house pipelines and terminals, which deliver approximately 3 million b/d of refined products to the eastern U.S.
  • This means U.S. crude processing is not impacted and neither are gas prices nationally.
  • Fuel availability is of concern in the areas hit by the storm.
  • Once the storm passes and damage is assessed, fuel trackers can determine how quickly fuel supplies can be replenished in the hurricane-impacted areas.
  • As restoration and recovery efforts begin, diesel and gasoline needs for emergency responders and power outage crews will take precedence as local gas stations work to receive fuel shipments and regain electricity to dispense gasoline.
  • Transportation and distribution networks will likely be impaired k, but it is still too early to know the full extent of the damage caused by the hurricane. A
  • AA will continue to monitor the evolving weather event and provide gasoline-related updates as needed.

 

Global

  • Oil prices have edged higher = following release of the Energy Information Administration’s weekly petroleum report that showed stocks fell.
  • Dwindling supplies have put a spotlight on shrinking global crude inventories, which could cause oil prices to push to $70-$80/bbl this fall.
  • Continued decline in crude production from Venezuela and reduced crude exports from Iran due to U.S.-imposed sanctions that go into effect in November could place greater pressure on the market. I
  • In the near term, U.S. crude production is not expected to be impacted by Hurricane Florence.
  • There are no refineries in Florence’s path, so intake demand throughout the country is unlikely to be impacted by the storm.
     
 


Regular Unleaded Gas
Current and Past Price Averages
Sunday Week Ago Year Ago
National 2.853 2.847 2.633
Michigan 2.943 2.928 2.561
Ann Arbor 2.977 2.969 2.575
Benton Harbor 2.931 2.909 2.575
Flint 2.946 2.906 2.535
Grand Rapids/Muskegon/Holland 2.958 2.919 2.542
Jackson 2.977 2.946 2.619
Lansing/E. Lansing 2.929 2.921 2.561
Marquette 2.964 2.948 2.660
Metro Detroit 2.932 2.929 2.521
Saginaw/Bay City/Midland 2.968 2.947 2.503
Traverse City 2.756 2.768 2.608
         

 
 
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 23, 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.


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