GRAND RAPIDS, Mich. -- People at the pump are seeing some widely fluctuating prices right now at gas stations around West Michigan. GasBuddy Senior Petroleum Analyst Patrick DeHaan tells WOOD Radio a bit of a price war is underway in parts of Ottawa County right now.
"I mean, one station is Coopersville is at $2.56 (per gallon), and then you get over to the Grand Rapids metro area and there are stations at $3.15, even $3.25, so some stations just lowering prices much faster than others," DeHaan said.
DeHaan says some stations around Grand Rapids have not been as aggressive in lowering prices. He was asked if competition among gas stations is all that prompted the lowering of prices at some locations.
"It's simply all the level of competition, the price of oil and the wholesale price of gasoline has plummeted - starting in mid-to-late October. And that's given stations much larger latitude on how quickly they want to send those savings along to motorists," he said.
However, the lower prices at some locations may not last long.
"With oil prices recently rebounding, we may lose some of those ultra-low prices. That $2.56 price will probably go up; it's just a matter of time. Whereas the stations still over $3 do have some room to continue lower prices," DeHaan said.
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