DEARBORN, Mich.,
16
October
2023
|
00:58 AM
America/Chicago

Michigan Gas Prices Decline 12 Cents

The Michigan state average is 75 cents lower than this time last year

DEARBORN, Mich., (October 16, 2023) - Gas prices in Michigan are down 12 cents from a week ago. Michigan drivers are now paying an average of $3.47 per gallon for regular unleaded. This price is 25 cents less than this time last month and 75 cents less than this time last year.

Motorists are paying an average of $52 for a full 15-gallon tank of gasoline; a discount of about $26 from 2022's highest price last June.

According to new data from the Energy Information Administration (EIA), gas demand increased from 8.01 to 8.58 million b/d. On the other hand, total domestic gasoline stocks fell by 1.3 million bbl to 225.7 million bbl. Tepid demand, alongside descending oil prices, has pushed pump prices lower.

At the close of Wednesday’s formal trading session, WTI decreased by $2.48 to settle at $83.49. Oil prices rose sharply early last week after Hamas attacked Israel, but they have since dropped as demand concerns continue to weigh on the market. If the market tips into a recession, oil prices, and demand would likely decline. Additionally, the EIA reported that total commercial crude stocks increased significantly by 10.1 million bbl to 424.2 million bbl.

"Michigan motorists are seeing much lower gas prices, with the state average down 25 cents in the past two weeks," said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. "If oil prices continue to decline, drivers can expect further price drops at the pump in the weeks ahead."

Compared to last week, Metro Detroit’s average daily gas price decreased. Metro Detroit’s current average is $3.45 per gallon, about 9 cents less than last week’s average and 65 cents less than this same time last year.

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

  • Most expensive gas price averages:  Marquette ($3.58), Jackson ($3.57), Traverse City ($3.54)
  • Least expensive gas price averages: Benton Harbor ($3.40), Flint ($3.42), Metro Detroit ($3.45)

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

$3.60

$3.61

$3.71

$3.87

$3.89

$3.10 (Dec. 23)

$5.02 (June 14)

$5.02 (June 2022)

Michigan

$3.47

$3.48

$3.59

$3.72

$4.22

$2.97 (Dec. 23)

$5.22 (June 11)

$5.22 (June 2022)

Detroit

$3.45

$3.45

$3.54

$3.78

$4.10

$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

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.