Gasoline price at Michigan pumps sets new high mark for 2025
A gallon of regular unleaded gas hit $3.19 over the weekend before setting in at $3.17 Monday morning, the organization said in its weekly gas price report.
The Monday pricing is up 13 cents from a week ago and 9 cents more than this time last month. It is 41 cents less than this time last year.
At that price, motorists would pay an average $47 for a 15-gallon tank of gasoline, which is about $10 less than 2024's highest price seen in July.
According to the Energy Information Administration, gasoline demand decreased from 9.18 b/d to 8.81. Total domestic gasoline supply decreased from 241.1 million barrels to 240.6. Gasoline production increased, averaging 9.6 million barrels per day.
At the close of Wednesday's formal trading session, WTI rose 26 cents to settle at $67.16 a barrel. The EIA reports that crude oil inventories increased by 1.7 million barrels from the previous week. At 437.0 million barrels, U.S. crude oil inventories are about 5% below the five-year average for this time of year.
The most expensive gasoline this week in Michigan is in Jackson at an average cost of $3.24; and the least expensive is in Traverse City at an average cost of $2.95.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
USA Today
3 minutes ago
- USA Today
Which states have rising electricity costs? See map
Americans are paying more for electricity this summer thanks to a combination of extreme temperatures and the expansion of power-hungry data centers needed to support the surge in artificial intelligence usage. Power demand from data centers in the U.S. is expected to nearly triple over the next three years, consuming as much as 12% of the country's electricity, according to a Department of Energy-backed study, as reported by Reuters. How will this influx in energy demand impact residential electricity bills? Here's what we know about the change in electricity prices for the average consumer: Which states are paying more for electricity? Between May 2024 and May 2025, the average retail residential price for 1 kilowatt-hour of electricity increased about 6.5%, according to the most recent available data from the U.S. Energy Information Administration (EIA). Electricity costs can vary due to energy rates, taxes, and utility fees in your area. A report from Choose Energy, an energy broker, has identified which states are facing higher electricity prices this year. Residents in Idaho currently pay the cheapest residential electricity rates in the country at 11.88 cents per kWh, while Hawaii's residents pay the highest electricity rates at 41.03 cents per kWh. What is causing electricity prices to increase? Many factors influence the price of electricity, including infrastructure costs, fuel prices, weather conditions, record-high temperatures and the balance of supply and demand, according to the EIA. On July 28 from 7 to 8 p.m. ET, Americans consumed 758,149 megawatt-hours of electricity – a new national record, according to EIA. The extraordinary demand for power resulted from large, densely populated areas of the U.S. experiencing a slow-moving 'heat dome,' which trapped high temperatures and humidity for days at a time, as previously reported by USA TODAY. In addition to the extreme weather causing an overall increase in residential electricity consumption, the demand from artificial intelligence data centers has also been linked to rising electricity bills in some areas. A recent report from The Washington Post found that some customers in areas serviced by PJM Interconnection, which coordinates the movement of wholesale electricity in all or part of 13 states (Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia and West Virginia) and the District of Columbia, have seen their electricity bills increase because of data centers. Electricity bills for some consumers in New Jersey have increased by 20% and in Ohio, prices rose between 10% and 15%. Read more about the pros and cons of data centers: Worst regions for clean energy: Are US data centers fueling climate change? Data centers are on the rise in AZ: Are they a good idea in the desert? CONTRIBUTING: Terry Collins, Trevor Hughes, USA TODAY, Sarah Lapidus, Sasha Hupka, Arizona Republic
CBS News
9 hours ago
- CBS News
Florida gas prices dip more than a dime in a week. Here's what you'll pay at the pump.
There was good news at the pump for Florida drivers last week as gas prices dropped more than a dime. On Monday, drivers were paying an average of $2.94 a gallon for regular unleaded, down from $3.09 a week earlier, according to the AAA auto club. For several months, average prices in Florida had been moving about 15 cents a week in both directions until holding around $3.10 a gallon during the last two weeks. Nationally, the average price Monday was $3.15 a gallon, up a penny from a week earlier. Patrick De Haan, head of petroleum analysis at GasBuddy, said prices could dip before Labor Day. "Oil prices continue to hover in the mid-to-upper $60s (a barrel), and with gasoline demand starting to ease as we head into August, we could see prices gradually decline as we approach Labor Day," De Haan posted online. "That said, this is also the time of year when the tropics begin to stir, so we'll be keeping a close eye on hurricane activity that could disrupt supply and shift the outlook." In Miami-Dade on Monday, the average price for regular unleaded was $2.95 a gallon, down 11 cents from the week before. A month ago, the average was $3.09 and a year ago drivers were paying $3.45 a gallon. In Broward, the average was also $2.95 a gallon, down 16 cents from last week. A month ago, the average was $3.14 and a year ago it was $3.49 a gallon. AAA encourages drivers to combine errands, drive conservatively, remove excess vehicle weight, shop around using the AAA mobile app, and consider paying with cash to avoid credit card surcharges. AAA members can also save by enrolling in gas rewards programs, such as Shell's Fuel Rewards or discounts at Love's Travel Stops. Travelers can find updated gas prices and plan routes using AAA's tools at
CBS News
12 hours ago
- CBS News
Gas prices in Michigan decline about 10 cents a gallon
Gas prices in Michigan are down about 10 cents a gallon as compared to a week ago, AAA-The Auto Club Group reported. Michigan drivers are now paying an average of $3.13 per gallon for regular unleaded, the weekly report says. This price is 6 cents less than this time last month and 56 cents less than this time last year. For a 15-gallon tank of gas, that adds up to a fill-up cost of about $46. Compared to last week, Metro Detroit's average daily gas price decreased slightly. Metro Detroit's current average is $3.19 per gallon, about 2 cents less than last week's average and 50 cents less than this same time last year.
