Michigan gas prices tumbled Monday to $3.36 a gallon for regular unleaded gasoline, a 4-cent drop from a week ago, leading some to wonder how low it would eventually go.
Could gas dip below $3 a gallon, which it was at in the state at the start of the year and has in other states?
"Despite a busy Labor Day weekend, many Michigan motorists are seeing slightly lower prices at the pump," Adrienne Woodland, a spokeswoman for AAA, said. "If crude oil prices continue to fall alongside lower demand, gas prices could slide further."
More colorfully, Patrick De Haan, head of petroleum analysis at GasBuddy, which also tracks gas prices, declared: "Motorists rejoice!" as the national average price of gasoline prices slumped for the fifth straight week, and more drops appeared to be coming, if, that is, there's no hurricane — and conflict doesn't get worse in the Middle East.
Gas demand rose from 9.19 million barrels a day to 9.3 million barrels a day. Meanwhile, total domestic gasoline stocks fell from 220.2 to 218.4 million barrels, and gasoline production decreased, according to the Energy Information Administration.
Motorists, AAA said, are paying about $50 for a 15-gallon tank of gas.
Metro Detroit’s average daily gas price, with an average Monday of $3.42, also fell with a 2-cent drop from a week ago, and 34 cents less than a year ago. Metro Detroit, however, is among the cities in Michigan with the highest average prices.
The other cities for most expensive average gas prices were in Jackson and Ann Arbor at $3.47 a gallon.
The least? Grand Rapids, at $3.18 a gallon; Benton Harbor, $3.20, and Flint, $3.32.
More: Michigan gas prices fall to lowest price since June
The lower weekend prices nationally — $3.33, according to AAA — also spurred some headlines speculating that Democratic presidential nominee Kamala Harris could benefit. Gas prices tend to affect the incumbent administration’s approval rating, and, earlier this summer, set up criticism from Republicans .
Newsweek , on Sunday, however, reported: "Kamala Harris poised to get a major boost from falling gas prices."
Last week, De Haan noted that in the "run-up to Labor Day, the national average has fallen for four straight weeks to its lowest point since February." And Forbes speculated that gas price could keep falling to "the lowest prices since 2021."
De Haan added GasBuddy was tracking eight states where average gas prices below the $3 a gallon mark. And a nearly nationwide switch to winter gasoline is about two weeks away. The mix could reduce prices further because it contains more butane, which costs less.
Contact Frank Witsil: 313-222-5022 or fwitsil@freepress.com.
This article originally appeared on Detroit Free Press: Will Michigan gas dip below $3 a gallon? Prices drop amid lower demand, falling oil costs
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