GRAND RAPIDS, Mich. - Grand Rapids gas prices have risen 9.5 cents per gallon in the past week, averaging $2.90/g today, according to GasBuddy's daily survey of 246 stations. Gas prices in Grand Rapids are 41.5 cents per gallon higher than a month ago, yet stand 7.3 cents per gallon lower than a year ago.
According to GasBuddy price reports, the cheapest station in Grand Rapids is priced at $2.59/g today while the most expensive is $2.99/g, a difference of 40.0 cents per gallon. The lowest price in the state today is $2.59/g while the highest is $4.39/g, a difference of $1.80/g. The cheapest price in the entire country today stands at $2.01/g while the most expensive is $5.49/g, a difference of $3.48/g.
The national average price of gasoline has risen 3.3 cents per gallon in the last week, averaging $2.79/g today. The national average is up 11.4 cents per gallon from a month ago, yet stands 8.5 cents per gallon lower than a year ago.
"For the third straight week, the national average price of gasoline has risen, following oil prices higher due to global geopolitical tensions, declining oil inventories and Hurricane Barry shut in oil production in Gulf waters," said Patrick DeHaan, head of petroleum analysis for GasBuddy.
With Barry in the rearview, we are unlikely to see major disruptions arise, and gas prices nationally will avoid seeing much of a price rise as a result. However, prices may continue to drift higher as oil prices last week re-took the critical $60 per barrel barrier, and with U.S. oil inventories already in steep decline in recent weeks, we may see additional tightening, DeHaan explained.
While the trend for most states will be rising prices again this week, there may be a brief respite in the weeks ahead as worries over global growth persist, leading the U.S. Federal Reserve to re-think cutting interest rates.
Neighboring areas and their current gas prices:
Kalamazoo- $2.90/g, up 11.8 cents per gallon from last week's $2.78/g.
Lansing- $2.92/g, up 12.5 cents per gallon from last week's $2.80/g.
South Bend- $2.91/g, up 17.0 cents per gallon from last week's $2.74/g.
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