Tightening Supplies in the Midwest Push Michigan Prices to Highest Since October 2014 

14 June 2021

DEARBORN, Mich., (June 14, 2021) - Gas prices in Michigan jumped 15 cents compared to last week.  Michigan drivers are now paying an average of $3.17 per gallon for regular unleaded, which is the highest price since October of 2014. This price is 22 cents more than this time last month and $1.06 more than this time last year.

Motorists are paying an average of $47 for a full 15-gallon tank of gasoline; an increase of about $8 from when prices were their highest last January.

In its latest weekly report, new data from the Energy Information Administration (EIA) showed that gas demand dropped from 9.15 million b/d to 8.48 million b/d, while total domestic gas stocks increased by 7 million bbl to 241 million bbl. Typically, lower gas demand amid growing stocks would help push pump prices down, but the increasing price of crude has pushed prices up instead.

At the close of Thursday’s formal trading session, WTI increased by 33 cents to settle at $70.29. Crude prices crossed the $70/bbl threshold on Tuesday, a point they had not seen since mid-October 2018. Crude prices have increased due to optimism that vaccine rollout will continue to help crude demand recover and after the U.S. Consumer Price Index showed that prices increased by 5% in May, compared to last year, a larger increase than expected. The new report is fanning market concerns that inflation is driving prices higher. Additionally, crude prices have been bolstered by EIA’s latest report revealing that total domestic crude supplies decreased by 5.2 million bbl to 474 million bbl.

“Higher crude oil prices coupled with tightening gas supplies in the Midwest helped push the Michigan state average to the highest since October of 2014,” said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. “If domestic crude prices remain high, motorists will likely continue to see pump prices fluctuate through the end of the month.”

Compared to last week, Metro Detroit’s average daily gas price increased. Metro Detroit’s current average is $3.19 per gallon, about 10 cents more than last week’s average and $1.07 more than this same time last year.

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

  • Most expensive gas price averages: Metro Detroit ($3.19), Flint ($3.18), Ann Arbor ($3.18)
  • Least expensive gas price averages: Benton Harbor ($3.12), Traverse City ($3.13), Marquette ($3.14)


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

2020 Low

2020 High

Record High

National

$3.08

$3.08

$3.05

$3.03

$2.10

$1.77 (Apr. 29)

$2.60 (Jan. 9)

$4.11 (July 2008)

Michigan

 $3.17 

$3.17

$3.02

$2.95

$2.11

$1.41 (Apr. 28)

$2.63 (Jan. 9)

$4.26 (May 2011)

Detroit

$3.19

$3.18

$3.09

$2.97

$2.12

$1.42 (Apr. 28)

$2.61 (Jan. 9)

$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.