The Michigan state average is down 85 cents from this time last month
DEARBORN, Mich., (December 12, 2022) – Gas prices in Michigan dropped 20 cents from a week ago. Michigan drivers are now paying an average of $3.24 per gallon for regular unleaded. This price is 85 cents less than this time last month but still 4 cents more than this time last year.
Motorists are paying an average of $48 for a full 15-gallon tank of gasoline; a discount of about $3 from 2021’s highest price last November.
According to new data from the Energy Information Administration (EIA), gas demand remained low at 8.36 million b/d. The current rate is approximately 605,000 b/d lower than the rate at this time last year. Meanwhile, total domestic gasoline stocks rose significantly by 5.3 million bbl to 219.1 million bbl. Increasing supply and lower gasoline demand is pushing pump prices lower.
At the close of Wednesday’s formal trading session, WTI decreased by $2.24 to settle at $72.01. Crude prices softened last week due to a stronger dollar. Additionally, crude prices were pushed down after the EIA reported that total domestic commercial crude stocks fell 5.2 million bbl, a lower amount than the market expected. The domestic commercial crude supply is 19 million bbl lower than the beginning of December 2021.
“Michigan motorists have seen gas prices steadily decline for the past five weeks with some metro areas seeing prices even lower than this time last year,” said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. “As demand remains low and stocks grow, drivers will likely continue to see pump prices decrease through this week.”
Compared to last week, Metro Detroit’s average daily gas price decreased. Metro Detroit’s current average is $3.10 per gallon, about 19 cents less than last week’s average and 19 cents less than this same time last year.
• Most expensive gas price averages: Traverse City ($3.53), Jackson ($3.44), Grand Rapids ($3.43)
• Least expensive gas price averages: Metro Detroit ($3.10), Lansing ($3.16), Flint ($3.21)
Find Local Gas Prices
• Daily national, state, and metro gas price averages can be found at Gasprices.aaa.com
• Motorists can find the lowest gas prices on their smartphone or tablet with the free AAA Mobile app. The app can also be used to map a route, find find discounts, book a hotel and access AAA roadside assistance.
Ways to Save on Gasoline
• Combine errands to limit driving time.
• Shop around for the best gas prices in your community.
• Consider paying cash. Some retailers charge extra per gallon for customers who pay with a credit card.
• Remove excess weight in your vehicle.
•Drive conservatively. and speeding reduces fuel economy.
• Enroll in savings programs. AAA Members who enroll in Shell’s Fuel Rewards program can save 5 cents per gallon when they fill up at Shell.
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.