15
May
2022
|
17:00 PM
America/Chicago

AAA: Michigan Gas Prices Continue Rising; Set New Record High

The Michigan state average is up 5 cents compared to last week

DEARBORN, Mich., (May 16, 2022) - Gas prices in Michigan are up 5 cents from a week ago. Michigan drivers are now paying an average of $4.38 per gallon for regular unleaded, a new record high. This price is 48 cents more than this time last month and $1.43 more than this time last year.

Motorists are paying an average of $65 for a full 15-gallon tank of gasoline; an increase of about $14 from when prices were their highest last November.

According to new data from the Energy Information Administration (EIA), total domestic gasoline stocks decreased by 3.6 million bbl to 225 million bbl. Gasoline demand also decreased slightly from 8.86 million b/d to 8.7 million b/d. Typically, lower demand would put downward pressure on pump prices. However, crude prices remain volatile, and as they surge, pump prices follow suit.

At the close of Wednesday's formal trading session, WTI increased by $5.95 to settle at $105.71. At the beginning of last week, the price of crude oil slid below $100 per barrel due to global market concern that crude demand will suffer as COVID lockdowns in China remain in place. However, crude prices reversed course over growing market worries that Ukrainian and European Union actions against Russian oil-and-natural gas companies could spark retaliation by Russia that leads to more market disruption and uncertainty. Crude prices rose despite EIA reporting that domestic crude supply increased by 8.5 million bbl to 424.2 million bbl. The current level is approximately 12.5 percent lower than during the first week of May 2021.

"Despite the slight decrease in demand, Michigan gas prices continue to increase, setting a new record high," said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. "Pump prices will likely face upward pressure if gasoline stocks continue to decrease and oil prices remain above $105 per barrel."

Compared to last week, Metro Detroit's average daily gas price increased, setting a new record high. Metro Detroit's current average is $4.44 per gallon, about 14 cents more than last week's average and $1.44 more than this same time last year.

Click here to view AAA's state and metro gas averages

  • Most expensive gas price averages: Marquette ($4.49), Metro Detroit ($4.44), Ann Arbor ($4.41)
  • Least expensive gas price averages: Traverse City ($4.21), Saginaw ($4.31), Grand Rapids ($4.32)


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 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. Aggressive acceleration 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. Click here for more information.


CURRENT AND PAST PRICE AVERAGES

Regular Unleaded Gasoline

Sunday

Saturday

Week Ago

Month Ago

One Year Ago

2021 Low

2021 High

Record High

National

$4.47

$4.45

$4.32

$4.07

$3.04

$2.25 (Jan. 1)

$3.42 (Nov. 5)

$4.47 (May 2022)

Michigan

$4.38

$4.36

$4.32

$3.90

$2.95

$2.17 (Jan. 10)

$3.43 (Nov. 7)

$4.38 (May 2022)

Detroit

$4.44

$4.41

$4.30

$3.95

$3.00

$2.20 (Jan. 7)

$3.40 (Nov. 6)

$4.44 (May 2022)

Click here to view current gasoline price averages

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.

AAA updates fuel price averages daily at www.GasPrices.AAA.com.

About AAA - The Auto Club Group
AAA in Michigan celebrated its 100th Anniversary - A Century of Service in 2016 and has over 1.5 million members across the state. It is part of The Auto Club Group (ACG). Connect with us on Facebook and LinkedIn.

The Auto Club Group (ACG) is the second largest AAA club in North America with more than 13 million members across 14 U.S. states, the province of Quebec and two U.S. territories. ACG and its affiliates provide members with roadside assistance, insurance products, banking and financial services, travel offerings and more. ACG belongs to the national AAA federation with more than 62 million members in the United States and Canada. AAA's mission is to protect and advance freedom of mobility and improve traffic safety. For more information, get the AAA Mobile app, visit AAA.com, and follow us on Facebook, Twitter and LinkedIn.