GRAND RAPIDS, Mich. — Gas prices in Michigan are down 20 cents compared to a week ago, according to AAA.
Michigan drivers are now paying an average of $2.04 per gallon for regular unleaded, which is a new 2020-low. This price is 38 cents less than this time last month and 57 cents less than this time last year.
Motorists are paying an average of $31 for a full 15-gallon tank of gasoline; a discount of $13 from when prices were their highest last July.
New data from the Energy Information Administration shows that total domestic stocks decreased last week by 5 million bbl to 247 million bbl, while demand increased — from 9.19 million b/d to 9.45 million b/d. Shrinking gas stocks amid rising demand would typically put upward pressure on gasoline prices; however, cheap crude prices have helped to push gas prices lower than expected.
"If crude prices remain low, motorists will likely see continued relief at the pump during the run-up to spring as the world grapples with how to contain the global public health threat and financial risks associated with COVID-19," said Adrienne Woodland, spokesperson, AAA - The Auto Club Group.
Click here to view AAA's state and metro gas averages
- Most expensive gas price averages: Marquette ($2.42), Traverse City ($2.17), Ann Arbor ($2.12)
- Least expensive gas price averages: Saginaw ($1.92), Grand Rapids ($1.94), Lansing ($1.94)
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