Gas prices in Michigan drop to new low for 2025
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Gas prices in Michigan drop to new low for 2025Janis Reeser
| AI-assisted reporter
GaspricesinMichiganhavedroppedtoanewlowfor2025.AccordingtoacommunityannouncementfromAAAMichigan,theaveragepriceforregularunleadedgasolineisnow$2.96pergallon,down12centsfromlastweek.Thispriceisalso7centslowerthanlastmonthand49centslessthanthistimelastyear.
Motoristsarenowpayingabout$44forafull15-gallontank,whichisasavingsofapproximately$13comparedtothehighestpricesrecordedinJuly2024.
RecentdatafromtheEnergyInformationAdministration(EIA)indicatesthatgasolinedemandhasrisenfrom8.23millionbarrelsperdayto8.45millionbarrels.Meanwhile,thetotaldomesticgasolinesupplyhasincreasedslightlyfrom247.9millionbarrelsto248.3millionbarrels,althoughgasolineproductionhasdecreasedtoanaverageof9.2millionbarrelsperday.
Inthelatesttradingsession,WestTexasIntermediate(WTI)crudeoilpricesfellby$0.31tosettleat$68.62abarrel.TheEIAalsoreportedadecreaseincrudeoilinventoriesby2.3millionbarrelsfromthepr
