Gas Prices Rise 8 Cents Over Past Week
DEARBORN (WWJ/AP) – Following last month’s sudden spike, relief at the pump didn’t last long in metro Detroit.
AAA Michigan, surveys 2,800 gas stations daily, says gas prices have risen about 8 cents during the past week to a statewide average of about $3.53 per gallon.
The auto club said Monday the average is about 1 cent per gallon less than this time last year.
Of the cities it surveys, AAA said the cheapest price for self-serve unleaded fuel is in the Traverse City area, where it’s about $3.40 a gallon. The highest average is in Ann Arbor area at about $3.55 a gallon.
In Detroit, GasBuddy.com reported the best price Monday morning was $3.23 at the CITGO on Linwood at W. Davison.
GasBuddy Senior Petroleum Analyst Patrick DeHaan said the national average has decreased 14.4 cents per gallon during the last month and stands 7.8 cents per gallon higher than this day one year ago.
“After blaming higher gasoline prices on refineries for much of the early spring and summer, it now seems that higher oil prices may be to blame for an expected up tick in the national average,” said DeHaan.
“Oil prices have silently been tracking higher after tension in Egypt started to impact the market, driving oil prices higher. In turn, gasoline prices have begun to stage a rally as well. Oil closed last week at its highest level in over a year, and it may lead to a gentler rally in retail gas price than what we saw earlier this year, but a rally none the less,” DeHaan said.
CLICK HERE to find the best price near you.
(TM and © Copyright 2013 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2013 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)