No joke! Gas is 47 cents per gallon in one Michigan town

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Gas Is Now 47 Cents Per Gallon In One Michigan Town

HOUGHTON LAKE, Mich. (WXMI) -- An apparent gas war has forced the cost of a gallon of gasoline to plummet to some jaw dropping lows.

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.

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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

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U.S. gas prices continue to decline
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No joke! Gas is 47 cents per gallon in one Michigan town
Gas prices are displayed at an Exxon gas station in Woodbridge, Virginia, January 5, 2016. Oil prices fell further January 5 as the crude supply glut overshadowed a diplomatic row between key producers Saudi Arabia and Iran as fuel prices in the US have fallen below $2 per gallon. AFP PHOTO / SAUL LOEB / AFP / SAUL LOEB (Photo credit should read SAUL LOEB/AFP/Getty Images)
MILL VALLEY, CA - SEPTEMBER 14: A customer at an Arco gas station prepares to pump gas into his truck on September 14, 2015 in Mill Valley, California. The average price of a gallon of regular unleaded gasoline dropped 27 cents in the past three weeks to a national average of $2.44. (Photo by Justin Sullivan/Getty Images)
WOODBRIDGE, NJ - AUGUST 25: A gas attendant at a 19 Petroleum gas station pumps gas on August 25, 2015 in Woodbridge, New Jersey. Some places in New Jersey are seeing prices under two dollars as the price of gasoline continues to fall. (Photo by Yvonne Hemsey/Getty Images)
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