CADILLAC — Gas prices across the state and in the Cadillac area are down when compared to a week ago.
That was the news shared by AAA of Michigan Monday when the auto club said gas prices across the state were down 12 cents from the previous week. AAA also said Michigan drivers are paying an average of roughly $2.48 per gallon for regular unleaded fuel, which is the same as this time last month and 41 cents more than this time last year.
According to new data from the Energy Information Administration, gas demand hit 8.56 million barrels per day last week. The current rate of demand is in line with 2019’s rate seen in mid-January, a time that typically brings lower demand due to winter weather. EIA’s data also revealed that total domestic stocks of gasoline grew by 6.7 million barrels last week, bringing the total to 258.3 million barrels.
“Growing stocks amid lower demand have helped ease pump prices,‘ AAA spokesperson Adrienne Woodland said.
Motorists are paying an average of $37 for a full 15-gallon tank of gasoline which is a discount of $7 from when prices were their highest last July, according to AAA.
The national average was roughly $2.55 for a gallon of regular unleaded. More locally, AAA reported Monday via www.gasprices.AAA.com the average price for a gallon of regular unleaded was roughly $2.35 while the average for the same amount in Missaukee County was roughly $2.39. The average price for a gallon of regular unleaded in Osceola County was roughly $2.49 while in Lake County it was the highest at roughly $2.51.
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 and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline.
For daily updates to fuel price average go to www.gasprice.AAA.com.