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Gas prices fall 3.5 cents

Published 10:00pm Monday, December 5, 2011

Average retail gasoline prices in Michigan have fallen 3.5 cents per gallon in the past week, averaging $3.27 per gallon Sunday.

This compares with the national average that has fallen 2.6 cents per gallon in the past week to $3.29 per gallon, according to gasoline price website MichiganGasPrices.com.

Including the change in gas prices in Michigan during the past week, prices yesterday were 26.4 cents per gallon higher than the same day one year ago and are 10 cents per gallon lower than a month ago.

The national average has decreased 13.9 cents per gallon during the last month and stands 35.5 cents per gallon higher than this day one year ago.

“Even as oil and gasoline futures rallied after strong Black Friday sales reports and a drop in unemployment, retail gasoline prices have moved lower,” according to Patrick DeHaan, a GasBuddy.com senior petroleum analyst.

“I have a suspicion that as we near 2012, we may see retail prices climb slightly higher again on upbeat holiday spending, which is indicative of a healthier economy.”

If we remember back to last year, positive holiday sales also led to higher gasoline prices as Christmas approached, which may play out again this year.”

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  • http://www.facebook.com/#!/kbtonkin Kevin Tonkin

    Ooopps, spoke too soon and screwed us with the good news. Prices jump 25 cents overnight!

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