Grand Rapids - Independent service stations in Michigan have lost, on average, 13 cents for every gallon of gas they sold through the first 200 days of this year. That word Tuesday from the head of the Michigan Petroleum Association, Mark Griffin.
Griffin said service stations are now making up for lost time. "It's been a very rough time for gasoline retailers. Now that our cost is coming down, they may not lower their price as quickly as their cost comes down - as they attempt to get back some of the losses they incurred in the first part of the year," Griffin told WZZM 13.
Patrick DeHaan, webmaster of TheGasGame.Com, says service stations are more profitable when prices are coming down than when they are going up. "So they are loving this weather," he said, "and so are consumers."
DeHaan anticipates a steady decline in pump prices will continue for the foreseeable future.