Gas Prices Jump
Drivers in Michigan are paying more at the pump. AAA Michigan's weekly Fuel Gauge Survey shows gasoline prices up seven-cents per gallon over the past week to a statewide average of $2.82.
The statewide average is 42-cents per gallon higher than last year at this time.
Despite the increase, Nancy Cain from AAA of Michigan said prices have actually held fairly stable this spring and summer.
Of the cities it surveys, AAA Michigan says the cheapest price for self-serve regular fuel is in the Saginaw/Bay City area, where it's $2.80 a gallon. The highest average can be found in the Ann Arbor, Marquette and Traverse City areas at $2.84.
In Metro Detroit, prices are up five-cents to an average of $2.81 a gallon.
"Our weekly survey of 2,800 gas stations across the state shows that gas prices are up a little over seven cents a gallon this week," said Nancy Cain, of AAA Michigan, in Dearborn.
"On average, we're going to be paying $2.82 a gallon. We're seeing a trend just bumping up and down prices a little bit, but we're not anticipating any large increases of gas prices," Cain said.
"What we pay at the pump follows the crude oil price," Cain said. "And two years ago, for example, when crude oil prices were at the world record high at $140 a barrel, right now they're at about half of that for about $77 a barrel," she said.
Really, there's less demand for gasoline right now at a time when there is ample supply, Cain said.
Cain said the trend, overall, is stable gas prices throughout all summer, and she expects prices to remain stable into the Labor Day holiday.
© MMX WWJ Radio, All Rights Reserved. The Associated Press contributed to his report.
