(The Center Square) – Gas prices are slowly trending down in Michigan from their high of nearly $5 a month ago, just in time for summer travel.
Tuesday’s average in the state for regular unleaded is $4.61. Nationally, the average is $4.49. Prices have also edged down slightly from $4.51 yesterday and $4.80 a week ago.
Despite the recent decline, drivers are still paying more than $1.30 more per gallon compared to this time last year, when the average was $3.18.
Mid-grade fuel is averaging $5.21 per gallon, while premium stands at $5.78. Diesel, which has had some of the sharpest increases in recent months, is averages $6.00 per gallon – a 74% increase from the diesel average of $3.45 a year ago, according to AAA.
While experts are predicting continued relief for Michiganders at the pump in the coming weeks, prices have already seen some significant drops.
Going into this past holiday weekend, Michigan had the most significant declines in gas prices, dropping 20 cents. It was one of 43 states with drops, despite Memorial Day gas prices remaining the highest seen in four years.
While the conflict in Iran is ongoing and continues to affect the unpredictability of the gas market, GasBuddy Head of Petroleum Patrick De Haan is predicting continued easing of prices.
“Average diesel prices have just fallen back below $6/gal in Michigan, Indiana, and Ohio, with Illinois likely set to join today,” De Haan said on Monday. “More relief will be coming.”
This follows record-setting highs for all of those states. Still, De Hann is urging caution about predictions.
“The market is just an assessment – not foolproof,” he added.
As Michiganders join the millions hitting the road this summer, prices are still expected to remain high.
“With gasoline demand on the rise and the prolonged closure of the Strait of Hormuz, pump prices are likely to remain elevated as the summer travel season gets underway,” AAA reported.
Nationally, California has the most expensive gas prices at $6.11, while Indiana has the least expensive at $3.89.
