WOOD Radio Local News

WOOD Radio Local News

WOOD Radio Local News

 

Triple-A Michigan says gas prices have fallen 16 cents statewide

GRAND RAPIDS, Mich. -- Gas prices have gone down 16 cents in the past week in Michigan.

On average, drivers are paying $3.59 per gallon for regular unleaded. That is the lowest in the state since July, according to Triple-A Michigan's Adrienne Woodland. She tells WOOD Radio if oil prices continue to decline, you can expect to see further price drops at the pump in the weeks ahead.

Woodland was asked if it's too early to know whether the war in the Middle East might affect gas prices.

"Yeah, it is definitely too early. And where it may have an effect is on crude-oil prices. And so, we'll definitely have to watch this week and see if it has any bearing on crude-oil prices.

Woodland said the average price in Grand Rapids for regular unleaded is $3.60 per gallon. Why are the prices going down?

"We've seen a decrease in demand for gasoline alongside an increase in gasoline stocks. And we also saw a decrease in crude-oil prices last week," she said.


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