Michigan gas prices drop ahead of Memorial Day weekend travel
There’s some good news for Michigan’s nearly 1.2 million motorists who are forecasted to be on the road Memorial Day weekend: Gas prices in the state, on average, are down 9 cents a gallon from a week ago, according to AAA.
But they probably won't stay there.
Some analysts are predicting that by Memorial Day, drivers will be paying more. That means if you want to take advantage of the lower prices before your trip, you may want to fill up at a gas station sooner, rather than later.
By AAA's calculation, the average price per gallon in early Monday was $3.55, 7 cents less than a month ago, and 2 cents less than a year ago. In other words, if you wanted to fill up a 15-gallon tank, that would work out to about $53.
"While gas prices in Michigan are down to start the week, this trend will probably reverse," said Adrienne Woodland, a spokeswoman for AAA. "With an increase in demand from the rush of drivers filling up for Memorial Day, pump prices will likely increase ahead of the holiday weekend."
Gas demand rose from 8.79 million barrels a day to 8.87 million barrels a day, according to the Energy Information Administration. Meanwhile, total domestic gasoline stocks decreased slightly from 228 million to 227.8 million barrels.
West Texas Intermediate, a grade of crude oil, increased by 61 cents to settle at $78.87 a barrel. Prices rose as crude oil inventories decreased by 2.5 million barrels from last week. At 457 million barrels, U.S. crude oil inventories are about 4% below the five-year average for this time of year, AAA noted.
Most expensive gas price averages in Michigan
Jackson: $3.66
Ann Arbor: $3.62
Metro Detroit: $3.58
Least expensive gas price averages in Michigan
Benton Harbor: $3.44
Grand Rapids: $3.49
Flint: $3.52
Contact Frank Witsil: 313-222-5022 or fwitsil@freepress.com.
This article originally appeared on Detroit Free Press: Michigan gas prices down ahead of Memorial Day travel season
