This spike isn’t expected to be the end of it either, analysts say.
Unlike the temperature, gas prices are going up. GasBuddy.com says prices are up more than 10 cents over the past week to an average of $3.63 per gallon.
AAA Michigan reports that, statewide, the average price of gas has fallen 8.9 cents per gallon, and is now averaging just over $3.14 per gallon.
A day following the long Thanksgiving Day holiday weekend, AAA Michigan is reporting a drop in gas prices.
Click to find out where!
Average retail gas prices have fallen 12.4 cents per gallon in the past week.
According to AAA Michigan, gas prices have fallen about 15 cents during the past week to a statewide average of about $3.43 per gallon.
By now every driver knows the drill: the price of gas ratchets up, there’s an outcry among motorists, and then things settle down as the higher price becomes the new normal. And unfortunately, there’s no going back to the “good ole days.”
With Labor Day behind us and fears about military action in Syria easing up a little bit, gas prices have taken a slight dive. AAA Michigan says prices have dropped 9 cents over the last week.
Low prices for gas and high costs of retrieving it from deep rock offer little incentive for major development.