Michigan gas prices were down 11 cents from last week ahead of July 4 weekend – CBS Detroit
(CBS DETROIT) — Michigan’s average gasoline price is trending lower, dropping 11 cents ahead of the July 4 weekend.
According to AAA, the state’s average price for regular gas sits at $5.04, down from $5.15 last week. With prices falling, some parts of the state are reporting an average of less than $5.
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Traverse City and Benton Harbor, for example, have an average price of $4.93, while the Grand Rapids-Muskegon-Holland area fetches $4.95 and Saginaw-Bay City-Midland at $4.99.
However, prices in the Detroit metro area are still above $5, sitting at $5.14 a gallon on Monday.
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AAA officials say the drop in the global price of oil helped push the national average down to $4.89. Additionally, the price of oil has risen from $110 per barrel to $107 per barrel.
“Fear is not a good reason to move a market like oil, but it is a powerful motivator,” AAA spokesman Andrew Gross said in a press release. “The cost of oil is nearly $3 for every $4.89 at the gas pump. Consumers should find more relief when fueling up if oil prices fall further.
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