02
July
2023
|
17:00 PM
America/Chicago

AAA: Michigan Gas Prices Increase Slightly Ahead of July 4th

The Michigan state average is up 2 cents compared to last week

DEARBORN, Mich., (July 3, 2023) - Gas prices in Michigan are up 2 cents from a week ago. Michigan drivers are now paying an average of $3.54 per gallon for regular unleaded. This price is 2 cents less than this time last month and $1.42 less than this time last year.

Motorists are paying an average of $53 for a full 15-gallon tank of gasoline; a discount of about $25 from 2022's highest price last June.

According to new data from the Energy Information Administration (EIA), gas demand decreased slightly from 9.38 to 9.31 million b/d. Meanwhile, total domestic gasoline stocks increased by 600,000 bbl to 220 million bbl. Lower gas demand amid increasing supply has helped to limit pump price increases.

At the close of Wednesday's formal trading session, WTI increased by $1.86 to settle at $69.56. Oil prices increased due to market concerns after the EIA reported that total domestic commercial crude inventories decreased significantly by 9.6 million bbl to 453.7 million bbl, signaling that demand may be more robust than anticipated this summer. However, price increases have been capped since the market continues to worry that a recession could occur this year due to rising interest rates. If a recession occurs, oil demand and prices will likely decline.

"Michigan gas prices held steady over the holiday weekend, seeing only a slight increase ahead of July 4th," said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. "Despite the slight increase in pump prices, Michigan drivers are still paying $1.42 less than this time last year."

Compared to last week, Metro Detroit's average daily gas price increased slightly. Metro Detroit's current average is $3.58 per gallon, about 3 cents less than last week's average and $1.48 less than this same time last year.

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

  • Most expensive gas price averages: Marquette ($3.59), Metro Detroit ($3.58), Ann Arbor ($3.58)
  • Least expensive gas price averages: Benton Harbor ($3.46), Flint ($3.50), Grand Rapids ($3.51)


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

2022 Low

2022 High

Record High

National

$3.54

$3.54

$3.57

$3.57

$4.82

$3.10 (Dec. 23)

$5.02 (June 14)

$5.02 (June 2022)

Michigan

$3.54

$3.55

$3.52

$3.56

$4.96

$2.97 (Dec. 23)

$5.22 (June 11)

$5.22 (June 2022)

Detroit

$3.58

$3.58

$3.61

$3.56

$5.06

$2.95 (Dec. 22)

$5.31 (June 15)

$5.31 (June 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.