State gas prices continue to fallPublished 11:41am Monday, December 10, 2012
Average retail gasoline prices in Michigan have fallen 1 cent per gallon in the past week, averaging $3.41 a gallon Sunday. This compares with the national average that has fallen 4.8 cents per gallon in the last week to $3.34 a gallon, according to gasoline price website MichiganGasPrices.com.
Including the change in gas prices in Michigan during the past week, prices yesterday were 7.4 cents per gallon higher than the same day one year ago and are 4.7 cents per gallon lower than a month ago. The national average has decreased 12.2 cents per gallon during the last month and stands 5.5 cents per gallon higher than this day one year ago.
“The national average has continued to see a steady decline over the last week, and that trend will likely continue through this week at the very least,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “Last week, the Energy Information Administration reported one of the largest single week increases in gasoline inventories in my recent memory, which will likely contribute downward pressure to wholesale gasoline prices in the days and perhaps weeks ahead,” DeHaan said.
GasBuddy operates MichiganGasPrices.com and over 250 similar websites that track gasoline prices at over 140,000 gasoline stations in the United States and Canada. In addition, GasBuddy offers a free smartphone app which has been downloaded over 20 million times to help motorists find gasoline prices in their area. In Michigan, GasBuddy tracks price changes at 4,913 retail outlets.