DEARBORN (WWJ/AP) – The average price of gas statewide has dropped below $3 a gallon in Michigan for the first time in nearly four years.
Average gas prices fell 14 cents from last week and are currently about $2.99 per gallon. That’s roughly 38 cents less than the same time last year.
Prices dipped below the $3 mark yesterday in metro Detroit, where the average gas price is $2.97.
A gas history report by AAA determined the average price of gas hasn’t been below $3 a gallon in Michigan since December 2010. The organization says gas prices typically decline in the fall, when the industry begins offering a cheaper winter-blend and demand decreases.
According to GasBuddy.com, the lowest price available in Southeast Michigan, as of noon on Friday, was $2.65 for regular at the Clark statation at Vernor and Woodmere St. in Detroit. The next lowest — still a steal at $2.69 — was found at the Sphinx station on Southfield Rd. near Enterprise Dr. in Allen Park.
The highest price was the BP on Middlebelt Road and Wick, near Metro Airport, in Romulus, at $3.59 a gallon. The next highest was at the Shell station on Southfield Rd. at 8 Mile Southfield at $3.49.
TM and © Copyright 2014 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2014 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 This material may not be published, broadcast, rewritten, or redistributed.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.