DEARBORN, Mich.,
12
February
2024
|
09:29 AM
America/Chicago

Michigan Gas Prices Set New 2024-High

The Michigan state average is up 26 cents compared to last week

DEARBORN, Mich., (February 12, 2024) - Gas prices in Michigan are up 26 cents from a week ago, setting a new 2024-high. Michigan drivers are now paying an average of $3.26 per gallon for regular unleaded. This price is 32 cents more than this time last month but still 5 cents less than this time last year.

Motorists are paying an average of $48 for a full 15-gallon tank of gasoline; a discount of about $10 from 2023's highest price last August.

According to new data from the Energy Information Administration (EIA), gas demand increased from 8.14 to 8.81 million b/d. Meanwhile, total domestic gasoline stocks decreased by 3.1 million bbl to 251 million bbl. Higher gas demand and tighter supply have contributed to elevated pump prices.

At the close of Wednesday’s formal trading session, WTI increased by 55 cents to settle at $73.86. Oil prices rose after the EIA reported that refinery oil processing was down slightly from 82.9 to 82.4 percent, signaling that winter maintenance increases ahead of the spring driving season continues. Additionally, the EIA reported that total domestic commercial crude stocks increased by 5.5 million bbl to 427.4 million bbl.

The continued shutdown of BP's 440,000 b/d Whiting, Indiana, refinery, which lost power on Feb. 2, is contributing to higher prices in the Midwest region. A BP spokeswoman on Thursday morning said the company is "making progress" in restoring the refinery to "normal operations." No timeline has been given on restoration.

"Michigan motorists are seeing the highest gas prices so far this year," said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. "If demand continues to increase, alongside higher crude oil prices, drivers could see pump prices continue to rise."

Compared to last week, Metro Detroit’s average daily gas price increased. Metro Detroit’s current average is $3.26 per gallon, about 27 cents more than last week’s average but still 11 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 ($3.28), Jackson ($3.28), Ann Arbor ($3.27)
  • Least expensive gas price averages: Marquette ($3.19), Benton Harbor ($3.23), Traverse City ($3.25)

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

$3.19

$3.18

$3.15

$3.08

$3.42

$3.07 (Dec. 18)

$3.88 (Aug. 17)

$5.02 (June 2022)

Michigan

$3.26

$3.25

$3.00

$2.94

$3.31

$2.90 (Dec. 31)

$3.92 (Aug. 14)

$5.22 (June 2022)

Detroit

 $3.26 

$3.25

$2.99

$2.93

$3.37

$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.