Archived Story

2012 sees highest rise in average gas prices

Published 11:30am Wednesday, January 2, 2013

Average retail gasoline prices in Michigan have risen 8.5 cents per gallon in the past week, averaging $3.31 per gallon Sunday, according to GasBuddy’s daily survey of 4,913 gas outlets in Michigan.
This compares with the national average that has increased 3 cents per gallon in the past week to $3.27 per gallon, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Michigan during the past week, prices Sunday were 11.1 cents per gallon lower than the same day one year ago and are 14.1 cents per gallon lower than a month ago. The national average has decreased 13.2 cents per gallon during December and stands 1.7 cents per gallon higher than this day one year ago.
“2012 was a year that focused the spotlight on our nation’s oil refineries; it showed us the vulnerability of our infrastructure and what can happen to prices at the pump when infrastructure is compromised.
“We began the year with a BP refinery fire in Cherry Point, Wash., that caused massive spikes on the West Coast.  The spring delivered challenges for Great Lakes refineries and pushed Chicago gas prices to a record high.
“Similarly, the California summer saw major refinery outages there and new record high prices,” said Patrick DeHaan, a senior petroleum analyst for GasBuddy.com.
“Hurricane Sandy delivered a punishing blow to the East Coast causing refinery shutdowns, flooding and power outages.  The resulting fuel shortage triggered mile-long lines for gas.  New York gasoline spiked to a price level exceeding Honolulu and Anchorage as the highest in the U.S.
“GasBuddy is proud to have been called in by New York officials to provide counsel and data identifying the most current retail gasoline price updates and trends throughout the New York metro area,” said Gregg Laskoski, a senior petroleum analyst for GasBuddy.com.

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