DEARBORN, Mich.,
11
March
2024
|
00:20 AM
America/Chicago

Michigan Gas Prices Decline after Setting a New 2024-High

The Michigan state average is up 11 cents from a week ago

DEARBORN, Mich., (March 11, 2024) - Gas prices in Michigan declined slightly after setting a new 2024-high of $3.57 on Saturday. Michigan drivers are now paying an average of $3.56 per gallon for regular unleaded, which is up 11 cents from last week. This price is 31 cents more than this time last month and 1 cent more than this time last year.

Motorists are paying an average of $53 for a full 15-gallon tank of gasoline; a discount of about $5 from 2023's highest price last August.

According to new data from the Energy Information Administration (EIA), gas demand jumped from 8.47 to 9.01 million b/d. Meanwhile, total domestic gasoline stocks tightened by 4.5 million bbl to 239.7 million bbl. Growing gas demand, amid tighter supply, has pushed pump prices higher.

At the close of Wednesday’s formal trading session, WTI increased by 98 cents to settle at $79.13. Oil prices rose amid increased market optimism after U.S. Federal Reserve Chair Jerome Powell noted that interest rates are still expected to be cut later this year. Moreover, the EIA reported that total domestic commercial crude stocks increased by 1.3 million bbl to 448.5 million bbl. Earlier last week, the Organization of Petroleum Exporting Countries and its allies, including Russia, collectively known as OPEC+, extended their agreement to reduce production by 2.2 million barrels per day into the second quarter of 2024.

"Michigan drivers across the state continue to see higher prices at the pump," said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. "If crude oil prices continue to rise, gas prices will likely follow suit."

Compared to last week, Metro Detroit’s average daily gas price increased. Metro Detroit’s current average is $3.48 per gallon, about 4 cents more than last week’s average but still 7 cents less than this same time last year.

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

  • Most expensive gas price averages:  Lansing ($3.63), Grand Rapids ($3.63), Saginaw ($3.60)
  • Least expensive gas price averages: Metro Detroit ($3.48), Marquette ($3.49), Traverse City ($3.52)

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

$3.39

$3.40

$3.35

$3.18

$3.47

$3.07 (Dec. 18)

$3.88 (Aug. 17)

$5.02 (June 2022)

Michigan

 $3.56 

$3.57

$3.45

$3.25

$3.55

$2.90 (Dec. 31)

$3.92 (Aug. 14)

$5.22 (June 2022)

Detroit

 $3.48 

$3.49

$3.44

$3.25

$3.55

$2.94 (Dec. 31)

$3.88 (Aug. 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.