AAA: MICHIGAN GAS PRICES SET NEW 2022-HIGH

DEARBORN, Mich., (February 7, 2022) - Gas prices in Michigan jumped 15 cents, setting a new 2022-high. Michigan drivers are now paying an average of $3.37 per gallon for regular unleaded. This price is 20 cents more than this time last month and 87 cents more than this time last year.

Motorists are paying an average of $50 for a full 15-gallon tank of gasoline; an discount of about $1 from when prices were their highest last November.

According to new data from the Energy Information Administration (EIA), total domestic gasoline stocks grew by 2.1 million bbl to 250 million bbl. On the other hand, gasoline demand dropped from 8.51 million b/d to 8.23 million b/d. An increase in total stocks and a decrease in demand typically put downward pressure on pump prices, but rising crude prices continue to push prices higher instead.

At the close of Thursday’s formal trading session, WTI increased by $2.01 to settle at $90.27. The tension between Russia and Ukraine continues to contribute to rising oil prices. Russia is a member of OPEC+, and any sanctions based on their actions toward Ukraine may cause it to withhold crude oil from the global market. Moreover, OPEC+ announced last week it will stick to its plan to increase crude production by 400,000 b/d next month despite calls for it to increase output more to help meet demand. Additionally, EIA reported that total domestic crude stocks decreased by 1.1 million bbl to 415.1 million bbl. The current stock level is approximately 13 percent lower than at the end of January 2021, contributing to pressure on domestic crude prices.

"Crude oil prices hit $90 a barrel putting upward pressure on Michigan pump prices pushing them to a new 2022-high," said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. "If crude prices continue to climb, pump prices will likely follow suit."

Compared to last week, Metro Detroit’s average daily gas price increased. Metro Detroit’s current average is $3.37 per gallon, about 12 cents more than last week’s average and 91 cents more than this same time last year.

Click here to view AAA's state and metro gas averages

• Most expensive gas price averages:  Marquette ($3.48), Lansing ($3.39), Benton Harbor ($3.38)
• Least expensive gas price averages: Traverse City ($3.34), Saginaw ($3.36), Ann Arbor ($3.36)

Find Local Gas Prices

• Daily national, state, and metro gas price averages can be found at Gasprices.aaa.com 
• Motorists can find the lowest gas prices on their smartphone or tablet with the free AAA Mobile app. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance.

  Gas Price Survey Methodology
  Every day up to 130,000 stations in the nation and more than 4,200 stations in Michigan are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline. 

  AAA updates fuel price averages daily at www.GasPrices.AAA.com.

  About AAA - The Auto Club Group
  AAA in Michigan celebrated its 100th Anniversary - A Century of Service in 2016 and has over 1.5 million members across the state. It is part of The Auto Club Group (ACG).  Connect with us on Facebook and LinkedIn.