09
October
2022
|
17:00 PM
America/Chicago

AAA: Michigan Gas Prices Jump 19 Cents

The Michigan state average is up $1.03 compared to this time last year

DEARBORN, Mich., (October 10, 2022) - Gas prices in Michigan continue the upward trend, rising 19 cents compared to last week. Michigan drivers are now paying an average of $4.36 per gallon for regular unleaded. This price is 50 cents more than this time last month and $1.03 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 2021's highest price last November.

According to new data from the Energy Information Administration, gas demand increased nationally from 8.83 million b/d to 9.47 million b/d, and total domestic gasoline stocks decreased significantly by 4.7 million bbl to 207.5 million bbl. High gasoline demand, amid tight supply, has led to higher pump prices nationwide.

Pump prices on the West Coast have increased due to ongoing refinery maintenance at roughly six refineries, severely limiting the region's supply. However, refinery restarts and California officials allowing less expensive winter-blend gasoline to be sold a month ahead of schedule should offer drivers relief at the pump in the coming days. For the upper Midwest, pump prices have spiked as a deadly refinery fire in Toledo, OH has tightened supply in the region. According to some reports, the 160,000 barrel-per-day BP-Husky Toledo refinery may be offline until December due to an ongoing investigation into the blaze.

At the close of Wednesday's formal trading session, WTI increased by $1.24 to settle at $87.76. Crude prices increased last week after the Organization of the Petroleum Exporting Countries (OPEC) and its allies including Russia, known as OPEC+, announced intentions to cut crude production by 2 million b/d this fall. The exact impact of the production cut on crude prices and domestic gas prices will depend on how the market interprets the reduction. If it appears that the production reduction is already occurring as a result of OPEC+ members being unable to meet current production quotas, the pricing impact is likely to be short-lived because the market may have already factored the lower production amount into pricing expectations. Moreover, for weeks, the market has been concerned that a recession could lead to lower crude demand and prices. If crude demand does decline, drivers may not see as large of a pricing impact. Additionally, the US is entering the fall and winter driving season when gasoline demand typically declines as a result of colder, inclement weather reducing trips.

"Rising crude oil prices coupled with tightening supply due to refinery issues continues to put upward pressure on pump prices," said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. "If demand declines, it could possibly slow down the price increases that Michigan motorists have seen for the past few weeks."

Compared to last week, Metro Detroit's average daily gas price increased. Metro Detroit's current average is $4.29 per gallon, about 9 cents more than last week's average and $1.00 more than this same time last year.

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

  • Most expensive gas price averages: Lansing ($4.43), Saginaw ($4.43), Flint ($4.43)
  • Least expensive gas price averages: Metro Detroit ($4.29), Traverse City ($4.31), Benton Harbor ($4.35)


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

$3.91

$3.90

$3.80

$3.74

$3.27

$2.25 (Jan. 1)

$3.42 (Nov. 5)

$5.02 (June 2022)

Michigan

$4.36

$4.36

$4.17

$3.86

$3.33

$2.17 (Jan. 10)

$3.43 (Nov. 7)

$5.22 (June 2022)

Detroit

$4.29

$4.30

$4.20

$3.95

$3.29

$2.20 (Jan. 7)

$3.40 (Nov. 6)

$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.