AAA launches online calculator to help car buyers budget for their next vehicle purchase

11 August 2022

DEARBORN, Mich., (August 8, 2022) - Gas prices in Michigan declined 20 cents compared to a week ago. Michigan drivers are now paying an average of $4.04 per gallon for regular unleaded. This price is 85 cents less than this time last month but still 74 cents more than this time last year.

Motorists are paying an average of $60 for a full 15-gallon tank of gasoline; an increase of about $9 from 2021’s highest price last November.

According to new data from the Energy Information Administration (EIA), gas demand dropped from 9.25 million b/d to 8.54 million b/d. The rate is 1.24 million b/d lower than last year and is in line with demand at the end of July 2020, when COVID-19 restrictions were in place and fewer drivers hit the road. Moreover, according to EIA, total domestic gasoline stocks increased slightly by 200,000 bbl to 225.3 million bbl.

At the close of Wednesday’s formal trading session, WTI decreased by $3.76 to settle at $90.66. Crude prices fell last week as market concerns about weakening demand persisted after the EIA reported that total domestic crude inventory increased by 4.5 million bbl to 426.6 million bbl. The sharp inventory increase during the usually high-demand summer driving season signals low demand could continue pushing prices lower. Additionally, the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group also known as OPEC+, announced that it would boost collective crude production by 100,000 bbl next month. However, the slight increase is unlikely to have a significant pricing impact – especially if demand continues to decline.

"Michigan motorists continue to see lower prices at the pump, with some areas seeing prices below $4 a gallon," said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. "If gas demand remains low and stocks continue to rise alongside falling crude prices, drivers will likely continue to see pump prices decrease."

Compared to last week, Metro Detroit’s average daily gas price decreased. Metro Detroit’s current average is $4.01 per gallon, about 19 cents less than last week’s average but still 64 cents more than this same time last year.

Click here to view AAA’s state and metro gas averages

  • Most expensive gas price averages:  Traverse City ($4.41), Marquette ($4.36), Ann Arbor ($4.19)
  • Least expensive gas price averages: Flint ($3.95), Grand Rapids ($3.98), Metro Detroit ($4.01)


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. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance.

Ways to Save on Gasoline

  • Combine errands to limit driving time.
  • Shop around for the best gas prices in your community.
  • Consider paying cash. Some retailers charge extra per gallon for customers who pay with a credit card.
  • Remove excess weight in your vehicle.
  • Drive conservatively. Aggressive acceleration and speeding reduces fuel economy.
  • Enroll in savings programs. AAA Members who enroll in Shell’s Fuel Rewards program can save 5 cents per gallon when they fill up at Shell. Click here for more information.


                            CURRENT AND PAST PRICE AVERAGES

                                       Regular Unleaded Gasoline

Sunday

Saturday

Week Ago

Month Ago

One Year Ago

2021 Low

2021 High

Record High

National

$4.07

$4.08

$4.22

$4.75

$3.19

$2.25 (Jan. 1)

$3.42 (Nov. 5)

$5.02 (June 2022)

Michigan

 $4.04 

$4.06

$4.24

$4.89

$3.30

$2.17 (Jan. 10)

$3.43 (Nov. 7)

$5.22 (June 2022)

Detroit

 $4.01 

$4.03

$4.20

$4.98

$3.37

$2.20 (Jan. 7)

$3.40 (Nov. 6)

$5.31 (June 2022)

Click here to view current gasoline price averages

 

 

 

 

 

 

Gas Price Survey Methodology
Every day up to 130,000 stations in the nation and more than 4,200 stations in Michigan are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline. 

AAA updates fuel price averages daily at www.GasPrices.AAA.com.

About AAA - The Auto Club Group
AAA in Michigan celebrated its 100th Anniversary - A Century of Service in 2016 and has over 1.5 million members across the state. It is part of The Auto Club Group (ACG).  Connect with us on Facebook and LinkedIn.

The Auto Club Group (ACG) is the second largest AAA club in North America with more than 13 million members across 14 U.S. states, the province of Quebec and two U.S. territories. ACG and its affiliates provide members with roadside assistance, insurance products, banking and financial services, travel offerings and more. ACG belongs to the national AAA federation with more than 62 million members in the United States and Canada. AAA’s mission is to protect and advance freedom of mobility and improve traffic safety. For more information, get the AAA Mobile app, visit AAA.com, and follow us on Facebook, Twitter and LinkedIn.