AAA Michigan: Statewide Gas Prices Drop Two Cents
Gas prices decreased slightly from last week, AAA Michigan reports.
Michigan's current statewide average is about $1.92 a gallon, about two cents less than last week and almost $1.40 less than this same time last year. This is the third week in a row that the statewide average gas prices have remained below $2 per gallon.
Of the cities surveyed by AAA, the cheapest price for self serve unleaded fuel can be found in the Detroit area where it's about $1.88 per gallon. Marquette and Traverse City are tied for the highest average at about $1.99 a gallon. As of Sunday, gas prices in and around the Flint area were slightly less than the statewide average at about $1.91 per gallon, up four cents from last week.
AAA attributes the dramatic slide in retail prices to a plummet in global crude oil prices since the end of last summer. The global price of crude oil has lost more than half its value since then. OPEC has alse said it will not intervene in the market to force prices higher and plans to sustain its current production levels, with the earliest possibility for supply reductions reportedly pushed to their next meeting in June.
AAA surveys more than 2,800 gas stations in Michigan daily. For more information, visit www.AAA.com.