AAA: June begins with lower gas prices in Michigan

Published 9:34 am Monday, June 3, 2024

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DEARBORN — Gas prices in Michigan are down 11 cents from a week ago, according to AAA. Michigan drivers are now paying an average of $3.55 per gallon for regular unleaded. This price is 9 cents less than this time last month and 1 cent less than this time last year.

Motorists are paying an average of $53 for a full 15-gallon tank of gasoline; a discount of about $5 from 2023’s highest price last August.

According to new data from the Energy Information Administration, gas demand fell slightly from 9.31 b/d to 9.14. Meanwhile, total domestic gasoline stocks rose from 226.8 to 228.8 million bbl.

At the close of Wednesday’s formal trading session, WTI declined by 60 cents to settle at $79.23 a barrel. Prices fell despite the EIA reporting that crude oil inventories decreased by 4.2 million barrels from the previous week. At 454.7 million barrels, U.S. crude oil inventories are about 4 percent below the five-year average for this time of year.

“Pump prices across Michigan are down as we enter the month of June,” said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. “Lower gasoline demand, increasing supply, and falling oil costs could push gas prices down further.”

Click here to view AAA’s state and metro gas averages

  • Most expensive gas price averages:  Jackson ($3.65), Ann Arbor ($3.60), Marquette ($3.57)
  • Least expensive gas price averages: Benton Harbor ($3.49), Flint ($3.50), Traverse City ($3.52)