Archived Story

Gas prices take nose dive

Published 1:41pm Monday, December 17, 2012

Average retail gasoline prices in Michigan have fallen 16.5 cents per gallon in the past week, averaging $3.22 a gallon Sunday, according to GasBuddy’s daily survey of 4,913 gas outlets in Michigan. This compares with the national average that has fallen eight cents per gallon in the last week to $3.25 a gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Michigan during the past week, prices yesterday were two cents per gallon higher than the same day one year ago and are 30.5 cents per gallon lower than a month ago. The national average has decreased 18.3 cents per gallon during the last month and stands 1.3 cents per gallon higher than this day one year ago.

“The drop in gas prices certainly has been well noted- in some instances people have been calling this a gas price crash. Dub it whatever you like, but I’ll remind motorists: gasoline prices in some areas still could set all-time record highs for Christmas Day,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “While it is excellent that gasoline prices have dropped, I’m not on board with this being called a gas price crash. Call me a grinch, call me a realist, but at the end of the day, data doesn’t lie- and that data shows that gasoline prices are still clinging near all time highs for today’s date,” DeHaan said.

About GasBuddy.com

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 25 million times to help motorists find the lowest gasoline prices in their area.

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