Pump price rises a penny

Published 8:48pm Monday, March 19, 2012

Average retail gasoline prices in Michigan have risen one cent per gallon in the past week, averaging $3.95 per gallon Sunday. This compares with the national average that increased 4.3 cents per gallon in the last week to $3.80 per gallon, according to gasoline price website MichiganGasPrices.com.

Including the change in gas prices in Michigan during the past week, prices March 18 were 36.8 cents per gallon higher than the same day one year ago and 49.8 cents per gallon higher than a month ago. The national average has increased 28.6 cents per gallon during the last month and stands 27.9 cents per gallon higher than this day one year ago.

“Average retail gasoline prices will likely rise this week, after a surge in wholesale prices late last week,” said Patrick DeHaan, a senior petroleum analyst at GasBuddy.com. “Some analysts believe gasoline prices may have peaked, but I am not at all confident in such words. I still maintain that prices will likely not peak until we get closer to the month of May, as a majority of locales around the United States make eventual switch-overs to summer spec gasoline,” DeHaan said.

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