Janice R. Andrews
Michigan’s average gas price has dropped to $3.03 per gallon, reversing an 11-cent increase from the previous week. According to AAA, this decline stems from lower consumer demand coupled with rising domestic fuel reserves.
“Michigan motorists are seeing lower gas prices across the state,” noted AAA spokeswoman Adrienne Woodland. Recent data shows gasoline demand increased from 8.16 to 8.48 million barrels per day, while stockpiles grew to 237.7 million barrels, suggesting near-term price stability.
Drivers now pay approximately $45 to fill a 15-gallon tank, marking a $12 reduction from July’s peak. While prices have decreased slightly month-over-month, they remain 8 cents above last year’s levels.
The energy sector faces potential changes amid the presidential transition. The Biden administration recently implemented restrictions on new offshore oil and gas drilling in most U.S. coastal waters, citing environmental concerns. In contrast, the incoming Trump administration has pledged to reverse these limitations, emphasizing economic development through resource exploitation.
Regional price variations persist across Michigan, with Ann Arbor ($3.09) and Metro Detroit ($3.08) recording the highest averages, while Traverse City ($2.88) and Lansing ($2.96) offer the lowest rates.
As Michigan residents benefit from current price reductions, attention turns to Washington, where upcoming policy decisions may significantly impact future fuel costs nationwide.
