Fill up now! Michigan gas prices expected to jump later this week

If you need gasoline, fill up now!

That's the advice from gas price tracker GasBuddy, which predicted Monday that motorists in Michigan will likely see higher gas prices within the next 48 hours and through the week, following hikes last week in neighboring states.

Since early morning, the prices have already started to go up, Patrick DeHaan, the head of petroleum analysis for GasBuddy, said.

In an odd twist, Michigan's gas prices actually went down by about 10 cents to a statewide average of $2.49, while other Midwest states — Indiana, Illinois, and Ohio — went up. But, now, gas stations are raising their prices.

"It looks like there was a little less competition in Michigan," DeHaan said. "Prices didn't go up last week, but they are this morning."

Ohio's average was about $2.43 a gallon, up 4 cents from a week ago, Indiana's, $2.58, up 8 cents.

"Two days from now," DeHaan predicted, "Michigan will probably be the highest of the three."

Illinois had an average of $2.61, up 7 cents.

Moreover, the national average for gas prices, which had been on the decline for six weeks, went up this week by about a penny mostly because of  soaring prices in the Great Lakes states, according to GasBuddy. The national average was about $2.46.

And oil prices have gone up as tensions in Iraq continue. 

"Oil prices have rebounded in the last week, led higher by geopolitical tensions and declining inventories, leading gasoline prices in some parts of the country to make a unseasonable move higher," said Patrick DeHaan, head of petroleum analysis for GasBuddy. "As refineries continue autumn maintenance, we may continue to see gasoline inventories under pressure, with a mixed bag of increases and decreases in the weeks ahead until the conclusion of such maintenance." 

The national gas price average, he predicted, could see an increase again this week as California's gas tax will see a 12-cent boost at midnight Wednesday while its diesel tax rises an even sharper 22 cents, sending prices up as the holidays approach.

Make it easy to keep up to date with more stories like this. Download the WZZM 13 app now.

Have a news tip? Email news@wzzm13.com, visit our Facebook page or Twitter.

© 2017 Detroit Free Press


JOIN THE CONVERSATION

To find out more about Facebook commenting please read the
Conversation Guidelines and FAQs

Leave a Comment