Gas prices set a yearly high for 3rd straight week in Michigan

Michigan Gas Prices Hit New Annual Peak for Third Consecutive Week

As spring break approaches, residents of Michigan are facing increasing gas prices. The cost of fuel has hit a new peak for the year, marking the third consecutive week of rises, as reported by AAA Michigan. The average price for a gallon of regular unleaded gas in the state now stands at approximately $3.65, which is a 9-cent increase from the previous week and a 44-cent rise compared to a month ago.

In the metro Detroit area, the situation is similar, with prices reaching $3.59 per gallon. This represents a 10-cent hike from last week and a 35-cent increase from the previous month. Onyx Evans, a local driver, expressed frustration over the rising gas prices, especially considering the current inflation affecting groceries and other essentials.

Recent data from the Energy Information Administration has shown a rise in gas demand, coupled with a decrease in total gas stocks. However, the current price spike is not solely due to these factors. It is also part of an annual trend where gas prices increase as oil retailers transition from the winter fuel blend, which is cheaper, to the more expensive summer blend.

Darryl Traver, another local, noted that while gas prices tend to spike and then decrease, the fluctuations are a constant presence. Despite the current high prices, experts anticipate that gas prices will fall below $3 per gallon later in the year, offering some relief to drivers.