USA gas prices are averaging $2.33 since June 1, which is the lowest gas price average since 2005 when it was $2.13.
Gas prices are up about 4-cents per gallon on average in MI this week according to AAA and holding relatively steady at about $2.36/gallon statewide. It was $2.16 then.
AAA predicts gas prices won't fall much further this summer and will likely go up as the low prices encourage more people to get out on the road. "And when travelers spend less at the pump, they are left with extra cash to spend on lodging, shopping, and dining out".
Florida is starting the summer with gas prices continuing to drop across the state, a new AAA study finds. The region's average is down 11.6 cents from a month ago, the AAA data shows.
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But it's not just the South seeing lower gas prices.
The Detroit-area's average was relatively unchanged from last week at about $2.36 per gallon.
Gas prices have fallen for 23 consecutive days this month for a total decline of 28 cents. The slump at the pump is not over yet.
Some drivers assume with more people traveling for the holiday, gas stations will mark up their prices, said Jenkins. "Prices are falling at a steady rate, and motorists should see another round of discounts this week". The stocks jump resulted in the region's low gasoline prices. Daily WTI settlements dropped from $51.23 in June, to as low as $39.51 in early August.
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