Gas prices in Michigan drop 11 cents since last week, AAA says

Gas prices in Michigan have dropped 11 cents since a week ago, making drivers pay an average of$3.60 per gallon for regular unleaded gasoline, AAA officials announced Monday.

The price is 4 cents higher than this time last month and 19 cents more than a year ago, according to AAA- The Auto Club Group.

Motorists are paying an average of $54 for a full 15-gallon tank of gasoline, the group said in a statement.

According to AAA's release, oil prices dipped as the EIA reported crude oil inventories increased by 7.3 million barrels from the previous week.

At 460.9 million barrels, U.S. crude oil inventories are about 3% below the five-year average for this time of year.

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

AAA reports the most expensive gas price averages in Jackson ($3.74), Ann Arbor ($3.66) and Lansing ($3.64).

The least expensivegas price averages are in Traverse City ($3.53), Benton Harbor ($3.55) and Marquette ($3.57).

Average gasoline prices in Detroit have fallen by 7 cents in the last week, putting the pump price average slightly below the state's, at $3.57, according to GasBuddy's survey of 1,734 stations in Detroit.

Prices in Detroit stand 21 cents higher than a year ago.

Detroit's gas price compared to the national average going back ten years:

• May 6, 2023: $3.36/g (U.S. Average: $3.50/g)
• May 6, 2022: $4.26/g (U.S. Average: $4.29/g)
• May 6, 2021: $2.94/g (U.S. Average: $2.95/g)
• May 6, 2020: $1.66/g (U.S. Average: $1.80/g)
• May 6, 2019: $2.86/g (U.S. Average: $2.89/g)
• May 6, 2018: $2.87/g (U.S. Average: $2.80/g)
• May 6, 2017: $2.36/g (U.S. Average: $2.34/g)
• May 6, 2016: $2.20/g (U.S. Average: $2.22/g)
• May 6, 2015: $2.50/g (U.S. Average: $2.64/g)
• May 6, 2014: $3.68/g (U.S. Average: $3.67/g)

The national average price of diesel fuel has dropped 3 cents in the last week and stands at $3.94 per gallon.

"We've seen the national average fade slightly again as oil prices have cooled and our spring peak appears to be more confidently behind us," said Patrick De Haan, head of petroleum analysis at GasBuddy, in an email to The Detroit News.

"While refinery utilization rates last week indicated that there is still some refinery maintenance work to be done, oil prices have helped put downward pressure on gasoline prices, with oil falling below $80 per barrel last week.

"In addition, a weaker than expected jobs report is adding to some concerns that gasoline demand could remain weak through the summer driving season, which is just a few weeks from beginning. With the seasonal factors behind us, looking ahead, we expect gasoline prices to continue cooling alongside diesel prices as we look forward to Memorial Day weekend."

According to GasBuddy price reports, the cheapest gas station in Detroit was priced at $3.18 per gallon Sunday while the most expensive was at $4.89 per gallon. The lowest price in the state was $2.99 per gallon while the highest was $4.89 per gallon.

Neighboring cities like Flint and Toledo saw gasoline prices drop 14 cents since last week. Flint's current average is $3.60 and Toledo's current average is $3.34.

GasBuddy reports the national average price of gasoline at $3.62 which is about 11 cents higher than a year ago, according to its data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

mjohnson@detroitnews.com

@_myeshajohnson