According to GasBuddy.com, the Beacon and Bridge Market in Houghton Lake is selling gas for as low as 47 cents per gallon. Gas Buddy.com says the price of petroleum dropped from 78 cents per gallon earlier today and the sudden drops makes Michigan the first state to see prices below $1 per gallon in years.
Other media reports say rival stations in Houghton Lake have dropped their prices to match Beacon and Bridge.
No word on how long the prices will stay this low.
RELATED: Gas prices continue to decline
U.S. gas prices continue to decline
No joke! Gas is 47 cents per gallon in one Michigan town
Photo by: Dennis Van Tine/STAR MAX/IPx 1/17/16 Gas Prices Tumble TowardÂ $1.00 Iran sanctions have been lifted which will wash the world with more oil. By some estimates, the country can export 500,000 barrels a day. The increase in global supply begins just as the lowest U.S. gas prices for a gallon of regular hover above $1.30 in some parts of the country. The current national average is $1.90. As crude collapses toward $25, gas prices are on their way down, again.
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Motorist purchase gas at a station that dropped the unleaded fuel price to $1.99 per gallon, Wednesday, Aug. 26, 2015, in San Antonio. The price of oil fell back below $39 a barrel after a U.S. government report showed an unexpected decline in demand for gasoline last week. (AP Photo/Eric Gay)
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In this May 6, 2015 photo, attendant James Lewis pumps gas at a station in Portland, Ore. Even after the typical springtime run-up, the average price for gallon of regular gasoline should top out around $2.60, experts say. (AP Photo/Don Ryan)
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