Current Gasoline Prices in Michigan Mixed

Drivers in Michigan saw a usual pattern of prices at the pump for the most recent week as they drifted down during the week’s early parts and then slammed higher towards the weekend.

Speedway, the price leader in the region, made a market-targeted movement of prices two days before the weekend. The current gasoline price of regular unleaded is $3.999 a gallon in 40 of the many Speedway stations in the metro Detroit area. Moreover, its other 130 outlets have their current gasoline prices at $3.959.

In more competitive markets like Midland, Alma and Saginaw, the movement leading to their current gasoline prices occurred one day after competitors made adjustments to their retail prices to reflect higher wholesale gas costs.

In the NYMEX, the oil price per barrel of West Texas Intermediate crude closed the week higher at $97.66, which is a $1.49 gain. At the end of the latest trading week, the wholesale price of gasoline in New York moved up by 5 cents per gallon to finish at $3.08.

All over Michigan, the average prices in different counties are as follows:

Clare’s gasoline price is at $3.96 per gallon which is an 8-cent increase in more than seven days. That of Gratiot is $3.94, which is a 6-cent increase compared to the past week. Montcalm’s gasoline price is $3.94, higher by 17 cents from the past week.

In Isabella, Mecosta and Midland, prices fell by 4 cents, 2 cents and 9 cents, respectively. Isabella’s and Midland’s gas prices are lower compared to the previous week at $3.95 and $3.77 per gallon, respectively. That of Mecosta fell to $3.95 within a week.

By: Chris Termeer

Chris Termeer

Chris Termeer is an oil and gas consultant, industry commentator and analyst. His book, Fundamentals of Investing in Oil and Gas provides a comprehensive overview of all aspects of the oil and gas industry, including exploration, drilling, production, storage, transportation and refining, to name but a few.

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