AAA MICHIGAN REPORTS: STATEWIDE AVERAGE DAILY GAS PRICE UP SLIGHTLY
Dearborn, Michigan (June 10, 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 $3.01 per gallon, about 1 cent more than last week’s average and about 59 cents more than this same time last year.
Compared to last week, Metro Detroit’s average daily gas price has decreased slightly. Metro Detroit’s current average is about $3.02 per gallon, about 1 cent less than last week’s average and about 62 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 $2.93 a gallon. The highest average price can be found in the Ann Arbor area for the sixth week in a row, where it’s about $3.05 a gallon.
According to the latest reports from AAA:
- 15th in the nation for most expensive average daily gas price
- Following EIA’s previous report of a regional 1.7 million bbl draw, gasoline inventories built in the latest report by 67,000 bbl in the Great Lakes and Central states region.
- At the 52 million bbl mark, total inventories are on par with levels the past two years at this time.
- EIA data shows that levels fluctuate between 48-55 million bbl during the summer months.
- The national average continues to drop as the summer driving season kicks into gear.
- Following a busy Memorial Day weekend, states are seeing pump prices fall slightly or stabilize.
- Declining prices are likely to have been pushed by lower than expected demand, which according to the Energy Information Administration (EIA).
- If demand continues to trend lower than expected, drivers may see continued relief at the pump in the weeks to come.
Oil prices have trended marginally lower following EIA’s report that crude production hit 10.8 million b/d recently.
- The estimate sets another weekly domestic record, which has been a reoccurring phenomenon in 2018.
- With 121 more active oil rigs over last year’s count at this time, according to Baker Hughes, Inc., increased crude prices and drilling investment have worked to support growing domestic crude production.
- When compared to last year at this time, the U.S. is producing roughly 1.5 million b/d more this year.
- Increased crude production also contributed to crude inventories in the U.S. growing.
Regular Unleaded Gas
Current and Past Price Averages
|Sunday ||Week Ago ||Year Ago |
|National ||2.922 ||2.950 ||2.344 |
|Michigan ||3.015 ||2.997 ||2.418 |
|Ann Arbor ||3.050 ||3.052 ||2.437 |
|Benton Harbor ||2.984 ||3.037 ||2.331 |
|Flint ||2.983 ||2.946 ||2.385 |
|Grand Rapids/Muskegon/Holland ||3.013 ||2.943 ||2.432 |
|Jackson ||3.050 ||2.965 ||2.435 |
|Lansing/E. Lansing ||3.015 ||2.970 ||2.370 |
|Marquette ||2.942 ||2.975 ||2.223 |
|Metro Detroit ||3.028 ||3.043 ||2.406 |
|Saginaw/Bay City/Midland ||3.035 ||2.958 ||2.434 |
|Traverse City ||2.937 ||2.945 ||2.420 |
| || || || || |
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 17, 2018
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.