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Mar 8, 2023 · That is on a pace to be the highest average under any president. Here is how prices stack up per gallon, from lowest to highest average for their terms: Joe Biden (partial term) — $3.60. Barack ...
May 6, 2022 · Michigan’s average price for a gallon of unleaded gasoline has hit a new record high mark. AAA data shows the statewide average was $4.31 as of Friday, the highest price ever recorded, and the ...
- Ken Haddad
- 3 min
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Jun 11, 2022 · On June 11, 2022, Michigan’s average price for a gallon of gasoline was $5.223. Metro Detroit’s average reached $5.293. That is the highest recorded average price in Michigan’s history.
- Kayla Clarke
Jun 6, 2022 · Pixabay. Gas prices reached another record high average statewide, according to data from AAA. AAA notes the average gas price in Michigan is about $5.06 as of Monday — that’s 44 cents higher than last week’s average and 74 cents higher than this time last month. The national average is slightly lower at $4.87 per gallon.
- Why Do Gas Prices Fluctuate?
- Why Did Gas Prices Increase So Much This Year?
- OK, Why Are Michigan's Gas Prices Among The Highest in The Nation?
- How High Did Gas Prices Get in Michigan This Year?
- What Is A Gas Tax Holiday?
- Can Drivers Expect Gas Prices to Go Down Soon?
The cost of crude oil, refinery processing, distribution, marketing and taxes impact gas prices. The price drivers pay at the pump reflects those costs as well as profits that refiners, marketers, distributors, and retail stations seek. Gas prices fluctuate when disruptive events, such as war or increased demand, impact oil and gas supplies.
Matthew Ross, a Western Michigan University assistant professor of finance, said the two main drivers of this year's high gas prices are the war and capacity limits. Ross said that Russia is a significant exporter of crude oil and refined petroleum. And the European Union, United States and Canada’s sanctions on Russia for invading Ukraine impacted...
Michigan and other Midwest drivers are paying more at the pump for several reasons. A refinery in Ohio from which Great Lakes states import fuel caught fire two weeks ago, said AAA spokesperson Adrienne Woodland. "That's what initially sent prices up," Woodland said. Crude oil prices — which comprise about 50 percent of the cost drivers see at the ...
President Joe Biden announced a U.S. ban on Russian oil in response to the deepening conflict between Russia and Ukraine. Afterward, gas prices soared to a record-high $5.22 per gallonfor unleaded gas on June 11. After that high, Michigan's gas pricesdeclined for 10 straight weeks.
On June 22, President Biden urged Congress and governors to temporarily suspend their excise taxes on gas, giving consumers a gas tax holiday. "Many states, including Florida, most recently, have already seen (gas tax holidays) go into effect and reduce prices," Peterson said. Some Michigan lawmakers tried to pass legislation pausing the state's ga...
"We're at the point where we have to wait and see where demand goes within the next week," said AAA’s Woodland. Fuel demands are typically lower in the fall than during summer travel season. However, Woodland said, refinery capacity and oil supplies would need to increase to drive prices back down.
- Zahra Ahmad
Oct 11, 2021 · Published October 11, 2021 at 10:53 AM EDT. Michigan motorists are paying more for gasoline than at any other time so far this year. AAA reports Michigan’s average price for a gallon of regular unleaded hit $3.33 Sunday. This price is 14 cents more than this time last month and $1.20 more than this time last year.
Jul 31, 2023 · 1:36. Michigan gas prices jumped 18 cents Monday from the week before to $3.67 a gallon, the highest state average in a few months, according to AAA. Gasoline prices fluctuate from week to week ...
