Gas prices fall more than 10 cents in Michigan as crude oil prices decline

Frank Witsil, Detroit Free Press

Michigan gas prices continue to yo-yo, falling more than a dime in the last week to a statewide average of $3.60 a gallon for regular unleaded, as motorists pay about $54 for a 15-gallon tank, as crude oil prices fall, according to AAA auto club.

That’s about the same price for gas metro Detroiters are paying: $3.59 a gallon.

"Michigan motorists are seeing some relief at the pump as the state average drops 11 cents from a week ago," AAA spokeswoman Adrienne Woodland said early Monday. "Tepid demand, increasing supply and falling oil prices could push pump prices lower."

The state average is 4 cents more than this time last month and 19 cents more than this time last year.

Nationally, the average price of gasoline fell a penny from a week ago to $3.62 a gallon, according to GasBuddy, which, like AAA, also compiles data from gas stations. GasBuddy also predicted prices could fall further.

"We’ve seen the national average fade slightly again as oil prices have cooled," said Patrick De Haan, head of petroleum analysis at GasBuddy. "We expect gasoline prices to continue cooling alongside diesel prices as we look forward to Memorial Day weekend."

Gas demand rose slightly from 8.42 million barrels a day to 8.62 million, according to the Energy Information Administration, which collects energy information. Total domestic gasoline stocks soared increasing 0.4 million barrels to 227.1 million barrels.

West Texas Intermediate — a light, crude oil that serves as a global benchmark — decreased by $2.93 to $79 a barrel, and U.S. crude oil inventories of 460.9 million barrels are about 3% below the five-year average for this time of year.

Around the state, gas prices varied.

Most expensive gas price averages

  • Jackson: $3.74

  • Ann Arbor: $3.66

  • Lansing: $3.64

Least expensive gas price averages

  • Traverse City: $3.53

  • Benton Harbor: $3.55

  • Marquette: $3.57

Contact Frank Witsil: 313-222-5022 or fwitsil@freepress.com.

This article originally appeared on Detroit Free Press: Gas prices in Michigan fall, may go lower depending on cost of oil

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