(The Center Square) – Michigan’s gas prices dipped slightly over the past week, offering drivers a brief reprieve, but costs remain well above where they were a year ago.
The current statewide average for regular unleaded sits at $3.94 per gallon, down from $4.01 last week. Prices have also edged down from $3.97 on Monday.
Despite the recent decline, drivers are still paying nearly 90 cents more per gallon compared to this time last year, when the average was $3.07.
Mid-grade fuel is averaging $4.54 per gallon, while premium stands at $5.10. Diesel, which has seen some of the sharpest increases in recent months, is currently averaging $5.29 per gallon – a 52% increase from the diesel average of $3.49 a year ago.
This is all according to AAA.
The modest drop this past week marks the first sustained break in rising prices since Operation Epic Fury launched in Iran in late February, which has contributed to volatility in global oil markets.
Prices vary across Michigan. The highest county average is Schoolcraft in the Upper Peninsula at $4.26, while the lowest is Genesee at $3.81.
Nationally, the average price for regular unleaded rose to $4.12 per gallon, according to AAA, recently reaching its highest level since August 2022.
Michiganders are feeling these increases every time they go to the gas pump.
“Four weeks ago I had a preemie, and now our 3-mile radius has turned into a 150-mile round trip to the nearest NICU,” Sabrina Sherman, a Michigan resident, told The Center Square. “I’m filling up every two days, and it costs about $80 each time to fill our SUV. We have enough unexpected additions to the budget—I just wish doubling gas prices wasn’t one of them.”
Analysts say ongoing geopolitical tensions mean the recent drop in prices may not last.
“This discount at the pump comes after price drops in both crude oil and gasoline futures last week,” said AAA spokesperson Mark Jenkins. “It’s unclear how long this downward trend can last. Continued uncertainty surrounding the reopening of the Strait of Hormuz is already pushing oil prices higher, which could put upward pressure on gas prices again.”
Uncertainty escalated further on Monday as a blockade on Iranian ports took effect following unsuccessful peace talks, adding to concerns about global oil supply and future price increases.
