10
October
2021
|
17:00 PM
America/Chicago

AAA: Michigan Gas Prices Spike Setting a New 2021-High

The Michigan state average is up 12 cents compared to last week

DEARBORN, Mich., (October 11, 2021) - Gas prices in Michigan jumped 12 cents, setting a new 2021-high. Michigan drivers are now paying an average of $3.33 per gallon for regular unleaded. This price is 14 cents more than this time last month and $1.20 more than this time last year.

Motorists are paying an average of $50 for a full 15-gallon tank of gasoline; an increase of about $11 from when prices were their highest last January.

According to new data from the Energy Information Administration (EIA), total domestic gasoline stocks increased by 3.3 million bbl to 225.1 million bbl last week. Gasoline demand also increased slightly from 9.40 million b/d to 9.44 million b/d. The slight increase in gas demand has contributed to the rise in the national average. However, the main culprit for rising pump prices remains high crude prices nearing $80 per barrel.

At the close of Thursday's formal trading session, WTI increased by 87 cents to settle at $78.30. Prices increased after the U.S. Department of Energy dispelled speculation that the Biden Administration would sell crude oil held in the U.S. Strategic Petroleum Reserve. The move could have put more crude into the domestic market, but it is unlikely to have had a sustained downward impact on oil prices. Additionally, prices rose last week following OPEC+, which comprises the Organization of the Petroleum Exporting Countries (OPEC), Russia and their allies, choosing not to move forward with an agreement to produce 800,000 b/d in November. Instead, OPEC+ decided to keep its 400,000 b/d planned production increase intact for now. Prices have increased this week despite EIA's latest report showing that total domestic crude inventories increased by 2.4 million bbl to 420.9 million bbl.

"Rising crude oil prices led to a double-digit spike in Michigan gas prices," said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. "If crude prices continue to trade near $80 a barrel, motorists will likely see elevated pump prices through this week."

Compared to last week, Metro Detroit's average daily gas price increased. Metro Detroit's current average is $3.29 per gallon, about 3 cents more than last week's average and $1.14 more than this same time last year.

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

  • Most expensive gas price averages: Lansing ($3.39), Saginaw ($3.38), Grand Rapids ($3.37)
  • Least expensive gas price averages: Ann Arbor ($3.26), Metro Detroit ($3.29), Benton Harbor ($3.34)

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.


CURRENT AND PAST PRICE AVERAGES

Regular Unleaded Gasoline

Sunday

Saturday

Week Ago

Month Ago

One Year Ago

2020 Low

2020 High

Record High

National

$3.27

$3.27

$3.20

$3.18

$2.19

$1.77 (Apr. 29)

$2.60 (Jan. 9)

$4.11 (July 2008)

Michigan

$3.33

$3.33

$3.21

$3.19

$2.13

$1.41 (Apr. 28)

$2.63 (Jan. 9)

$4.26 (May 2011)

Detroit

$3.29

$3.29

$3.26

$3.27

$2.15

$1.42 (Apr. 28)

$2.61 (Jan. 9)

$4.24 (May 2011)

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 14 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.