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Gas Prices Drop Significantly In The Last Week In Metro Detroit

DEARBORN (AP/CBS Detroit) — AAA Michigan says gas prices statewide have fallen about 32 cents in the past week.

The Dearborn-based auto club says the decline can be partly contributed to last week's restart of a large distillation unit at an Indiana oil refinery. The unit had shut down in early August for unscheduled repair work, and gas prices rose sharply.

According to AAA, the average price for self-serve regular unleaded gasoline was about $2.52 per gallon on Sunday. That's about $1.08 less at the same time a year ago.

Patrick DeHaan with GasBuddy.com, said prices averaged $3.01 a week ago and are already down to $2.64. And we will continue to see a drop:

"It's just a matter of time in my opinion before we see sub- $2 a gallon prices return – we'd be talking some stations may see prices going under $2 by Halloween," said DeHaan. "Others may lag a few weeks but by Christmas … most should see stations under two bucks."

DeHaan says by Labor Day, we should see another 10 to 25 cent a gallon drop at least.

AAA  surveys daily fuel prices at 2,800 gas stations across the state. The lowest average price was about $2.41 per gallon in the Marquette area, while the highest average was about $2.61 in the Lansing/East Lansing area.

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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