SOUTHFIELD (WWJ) – Gas prices could be dropping soon — and dropping a lot. That’s according to Patrick DeHaan of GasBuddy.com, who said the price of oil dropped sharply on Thursday, as did gasoline futures in the Midwest.
DeHaan told WWJ Newsradio 950 that Metro Detroit will soon see that drop at the pump.
“Don’t expect this all at once, but prices will be edging down as soon as tomorrow (Friday),” DeHann said.
He said we could see prices between $3.65 and $4-a-gallon by Memorial Day.
Meantime, even though fuel prices hit a record high in Michigan earlier this week, that doesn’t spell doom for summer tourism in our state.
Travel Michigan spokesman Dave Lorenz said he expects tourism to be up about four-percent, as Michigan State University earlier predicted.
Lorenz told WWJ the biggest influx of tourists will be from the Windy City.
“Here’s the thing about Chicago and some of our other out-of-state markets: Chicago gas is substantially higher than it is anywhere in Michigan. So, they know that when they come to Michigan, they’re actually saving money,” he said.
Lorenz said camping may go down temporarily before bouncing back when people adjust to the higher gas prices.
He said Michigan residents may stick closer to home, but he doesn’t think they’ll give up their leisure spending.