Archived Story

Gas prices up 7.1 cents in past week

Published 9:43pm Monday, October 31, 2011

Average retail gasoline prices in Michigan rose 7.1 cents per gallon in the past week, averaging $3.43 per gallon Monday.
This compares with the national average that has fallen 0.6 cents per gallon in the past week to $3.46 per gallon, according to gasoline price website
Prices Monday were 61.6 cents per gallon higher than the same day one year ago and  5.6 cents per gallon higher than a month ago. The national average has decreased 1.2 cents per gallon during the past month and stands 65.5 cents per gallon higher than this day one year ago.
“With some European resolve in regards to the Greece debt situation, oil prices took off late last week,” said Patrick DeHaan, senior petroleum analyst.
“While the national average has remained relatively subdued in the last couple weeks, we may see a slow climb in the national average this week. The national average for gasoline has barely climbed,” DeHaan said.
“As we approach heating oil season, we’ll also see support for diesel prices, which is sure to frustrate diesel consumers, who are paying as much as 80 cents more per gallon than gasoline consumers,” DeHaan said.


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