DEARBORN, Mich.,
08
January
2024
|
13:56 PM
America/Chicago

Michigan Gas Prices Continue to Fall

The Michigan state average is down 9 cents from a week ago

DEARBORN, Mich., (January 8, 2024) - Gas prices in Michigan are down 9 cents from last week. Michigan drivers are now paying an average of $2.81 per gallon for regular unleaded. This price is 39 cents less than this time last month and 52 cents less than this time last year.

Motorists are paying an average of $42 for a full 15-gallon tank of gasoline; a discount of about $16 from 2023's highest price last August.

According to new data from the Energy Information Administration (EIA), gas demand nosedived from 9.17 to 7.95 million b/d. Meanwhile, total domestic gasoline stocks increased substantially by 10.9 million bbl to 237 million bbl. Weak gas demand, alongside increased supply, has pushed pump prices lower. However, rising oil prices have limited price decreases.

At the close of Wednesday’s formal trading session, WTI increased by $2.32 to settle at $72.70. Oil prices increased last week amid heightened tensions in the Middle East. Shipping disruptions in the Red Sea and the potential for tighter sanctions on Iran have led to market concerns that the oil supply could tighten and transportation costs could rise. Additionally, the EIA reported that total domestic commercial crude inventories declined by 5.5 million bbl to 431.1 million bbl.

"As we move further into the new year, Michigan motorists continue to see lower prices at the pump," said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. "If gas demand remains weak, drivers will likely continue to see gas prices trickle downward."

Compared to last week, Metro Detroit’s average daily gas price decreased. Metro Detroit’s current average is $2.88 per gallon, about 6 cents less than last week’s average and 43 cents less than this same time last year.

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

  • Most expensive gas price averages:  Jackson ($2.93), Ann Arbor ($2.91), Marquette ($2.90)
  • Least expensive gas price averages: Grand Rapids ($2.69), Flint ($2.74), Benton Harbor ($2.75)

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

2023 Low

2023 High

Record High

National

 $3.08 

$3.08

$3.11

$3.20

$3.29

$3.07 (Dec. 18)

$3.88 (Aug. 17)

$5.02 (June 2022)

Michigan

$2.81

$2.82

$2.90

$3.19

$3.33

$2.90 (Dec. 31)

$3.92 (Aug. 14)

$5.22 (June 2022)

Detroit

$2.88

$2.89

$2.94

$3.16

$3.31

$2.94 (Dec. 31)

$3.88 (Aug. 15)

$5.31 (June 2022)

Click here to view current gasoline price averages

 

 

 

 

 

About AAA - The Auto Club Group

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 64 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.