Gas prices hold steady

Published 5:36pm Monday, March 26, 2012

Average retail gasoline prices in Michigan have not moved  in the past week, averaging $3.95 per gallon Sunday.

This compares with the national average that has increased 4.5 cents per gallon in the past week to $3.86 per gallon, according to gasoline price website MichiganGasPrices.com.

Including the change in gas prices in Michigan during the past week, prices March 25 were 36 cents per gallon higher than the same day one year ago and 27.8 cents per gallon higher than a month ago.

The national average has increased 21.9 cents per gallon during the last month and stands 29.5 cents per gallon higher than this day one year ago.

“The national average has risen 21 consecutive days, according to our data, a troubling sign. Typically we expect such increases to occur more so in April,” said Patrick DeHaan, a senior petroleum analyst at GasBuddy.com.

“We’re 31 cents per gallon ahead of our year-ago pace, and I’m seriously contemplating revising my January forecasts upward having seen things race higher, faster than expected. If there’s any ounce of good news for motorists, its that such high prices so quickly may mean prices will peak in April rather than May,” DeHaan said.

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