Gas prices reached another record high average statewide, according to data from AAA.
AAA notes the average gas price in Michigan is about $5.06 as of Monday — that’s 44 cents higher than last week’s average and 74 cents higher than this time last month.
The national average is slightly lower at $4.87 per gallon.
Gary Bubar, a AAA Michigan spokesperson, said as long as demand is high, supply is down and the cost of crude oil keeps rising, gas prices could continue to increase.
"There are some that have suggested that it will continue to rise through the summer and prices in Michigan could exceed $6 or more per gallon,” Bubar said. “We don't necessarily see that happening unless these factors continue on that trajectory."
A press release from AAA said that data from the U.S. Energy Information Administration (EIA), total domestic gasoline stocks decreased by 700,000 bbl to 219 million bbl last week.
“Meanwhile, gasoline demand grew from 8.8 million b/d to 8.98 million b/d as drivers fueled up for Memorial Day weekend travel,” the press release said. “These supply and demand dynamics have contributed to rising pump prices. Coupled with volatile crude oil prices, pump prices will likely remain elevated as long as demand grows and supply remains tight.”
Gas prices vary slightly throughout the state with Metro Detroit being the highest at $5.14. Ann Arbor is at $5.08 and Flint is at $5.02. Traverse City has the lowest gas prices in the state at $4.97 followed by Marquette and Grand Rapids: just under $5.
Bubar also said that people should take measures to conserve fuel by keeping up with vehicle maintenance, making sure tires are properly inflated and saving money by paying with cash as some retailers charge extra for those who pay with a credit card.
This comes as a proposal to pause taxes on fuel moves through Michigan's Legislature. The legislation passed the Senate on May 26 and is split into four bills that would enact tax suspensions from June 15 through September 15.
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