Gas prices lower than expectedPublished 10:57pm Tuesday, May 29, 2012
Average retail gasoline prices in Michigan have fallen 10.4 cents per gallon in the past week, averaging $3.69 per gallon Sunday. This compares with the national average that has fallen 3.6 cents per gallon in the past week to $3.65 per gallon, according to gasoline price website MichiganGasPrices.com.
Including the change in gas prices in Michigan during the past week, prices yesterday were 24.7 cents per gallon lower than the same day one year ago and are 13.1 cents per gallon lower than a month ago. The national average has decreased 15.7 cents per gallon during the last month and stands 13.4 cents per gallon lower than this day one year ago.
“Summer driving season has officially begun with the national average falling far lower than we expected it earlier this year,” said Patrick DeHaan, a senior petroleum analyst with GasBuddy.com. “The national average has dropped to a surprising $3.65 per gallon mark as of today. Had you asked me back in January if the national average would have been that low on Memorial Day, I would likely have chuckled, but it goes to show anything is possible,” DeHaan said.
The national average peaked at $3.92 per gallon on April 5.
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