New gas price high for 2024

Michigan drivers saw a noticeable increase in gas prices over the weekend.

According to AAA’s Monday report, gas prices in Michigan jumped 20 cents to an average price of $3.45 per gallon for regular unleaded.

That’s 45 cents more than last month, and 4 cents more than this time last year.

Those who filled up this weekend paid an average of $51 for a full 15-gallon tank of gasoline; a discount of about $7 from 2023’s highest price last August.

“Michigan motorists are seeing the highest gas prices since October 2023,” Adrienne Woodland, spokesperson for AAA-The Auto Club Group said, in the release. “If demand continues to grow alongside tighter supply, pump prices may continue to increase.”

According to new data from the Energy Information Administration (EIA), gas demand increased from 8.2 to 8.47 million barrels of oil per day (bbl). Meanwhile, total domestic gasoline stocks declined by 2.8 million bbl to 244.2 million bbl.

At the close of Wednesday’s formal trading session, West Texas Intermediate (WTI) decreased by 33 cents to settle at $78.54. Oil prices fell after the EIA’s weekly report showed that total domestic commercial crude stocks increased by 4.2 million bbl to 447.2 million bbl. The supply increase could signal that crude demand is loosening, contributing to a reduction in oil prices.

It’s the highest price so far this year.

At an average of $3.44 across Macomb, Oakland and Wayne counties, gas prices were about 19 cents more than last week, and 3 cents more than this same time last year.

AAA’s state and metro gas averages showed:

• Most expensive gas price averages: Jackson ($3.48), Benton Harbor ($3.47), Ann Arbor ($3.47)

• Least expensive gas price averages: Marquette ($3.29), Traverse City ($3.44), Metro Detroit ($3.44)

To find local gas prices

• Daily national, state, and metro gas price averages can be found at Gasprices.aaa.com

• Motorists can find the lowest gas prices on their smartphone or tablet with the free AAA Mobile app.