Rising crude oil prices push pump prices higher

10 January 2022

DEARBORN, Mich., (January 10, 2022) - Gas prices in Michigan are up 8 cents compared to last week.  Michigan drivers are now paying an average of $3.18 per gallon for regular unleaded. This price is 4 cents less than this time last month but still $1.01 more than this time last year.

Motorists are paying an average of $48 for a full 15-gallon tank of gasoline; a discount of about $3 from when prices were their highest last November.

According to new data from the Energy Information Administration (EIA), total domestic gasoline stocks rose by 10.1 million bbl to 232.8 million bbl. On the other hand, gasoline demand decreased from 9.72 million b/d to 8.17 million b/d.

At the close of Thursday’s formal trading session, WTI increased by $1.61 to settle at $79.46. Despite demand concerns over the COVID-19 omicron variant, crude prices increased last week after the EIA reported that total domestic crude stocks decreased by 2.1 million bbl to 417.9 million bbl. The current stock level is approximately 14 percent lower than at the end of December 2020, contributing to pressure on domestic crude prices. Additionally, a decision earlier last week by OPEC+ to maintain its 400,000-b/d monthly crude production increases, starting in February 2022, also helped to bolster crude prices.

“Typically, pump prices decline due to lower gas demand and a rise in total stocks, but continued growth in the price of crude oil has helped to elevate pump prices,” said Adrienne Woodland, spokesperson, AAA-The Auto Club Group.

Compared to last week, Metro Detroit’s average daily gas price increased slightly. Metro Detroit’s current average is $3.23 per gallon, about 1 cent more than last week’s average and $1.02 more than this same time last year.

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

  • Most expensive gas price averages: Marquette ($3.31), Traverse City ($3.26), Metro Detroit ($3.23)
  • Least expensive gas price averages: Grand Rapids ($3.13), Saginaw ($3.13), Flint ($3.15)


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.


                            CURRENT AND PAST PRICE AVERAGES

                                       Regular Unleaded Gasoline

Sunday

Saturday

Week Ago

Month Ago

One Year Ago

2021 Low

2021 High

Record High

National

 $3.30

$3.30

$3.29

$3.34

$2.31

$2.25 (Jan. 1)

$3.42 (Nov. 5)

$4.11 (July 2008)

Michigan

 $3.18

$3.18

$3.10

$3.22

$2.17

$2.17 (Jan. 10)

$3.43 (Nov. 7)

$4.26 (May 2011)

Detroit

 $3.23

$3.22

$3.22

$3.29

$2.21

$2.20 (Jan. 7)

$3.40 (Nov. 6)

$4.24 (May 2011)

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 14 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.