AAA Michigan: Statewide Average Gas Price Falls Below $1.50 For First Time In 12 Years
DEARBORN (WWJ/AP) - AAA Michigan says the statewide average price for gas has fallen below $1.50 for the first time since 2004.
The Dearborn-based auto club said Tuesday that the average price for self-serve regular unleaded gasoline was about $1.49 per gallon. That's down about 13 cents from last week and about 73 cents from the same point a year ago.
AAA Michigan says the last time the statewide average price was below $1.50 per gallon was Jan. 1, 2004.
According to the most recent AAA report, the decline in gas prices is due in part to these key factors:Domestic gasoline and crude oil supply are at record levels; decreased demand due to less driving in the winter months; slower-than-expected growth in China; and a strengthening U.S. dollar.
The auto club surveys daily fuel prices at 2,800 gas stations across Michigan.
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