AAA: Average gas prices in MI rise 1 cent

20 March, 2017, 17:55 | Author: Leticia Walters
  • A gas station and car wash at the corner of Oak and Divisadero streets

That's 30.3 cents higher from a year ago and up 1.2 cents in the past month.

Including the change in gas prices in Wyoming during the past week, prices yesterday were 42.9 cents per gallon higher than the same day one year ago and are 4.7 cents per gallon higher than a month ago. Historically, a gallon of regular gas in the United States rises by an average of 59 cents a gallon between mid-February and Memorial Day.

AAA spokesman Mark Jenkins said gas prices could drop 5-10 cents in the near future. "This seasonal trend could push gas prices 25 to 50 cents higher by June unless oil prices do not recover as expected". "Although it could take several weeks, analysts believe oil prices could recover by the time OPEC meets again in May".

The national average was $2.29 on Monday, remaining about where it has been for the past few weeks. The energy minister's comments gave little support to the market as the OPEC production freeze continues to be diluted by elevated USA production.

Springtime price increases are not unusual, as people tend to drive more in better weather, leading to greater demand, and oil companies switch to more expensive summer blends.

The Dearborn-based auto club says early Monday the average price for self-serve regular unleaded gasoline was about $2.36 per gallon.

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