Gas prices are up 9¢ cents this week according to Triple A Michigan and are now averaging $3.27 a gallon statewide. Patrick DeHaan at Gas Buddy says the oil industry is still struggling to emerge from the pandemic.
“We are in this temporary period where oil production remains far lower and demand is nearly normal and that is creating an imbalance that has pushed the price of oil up to $77 a barrel,” says DeHaan. “We did get some good news over the weekend that OPEC did agree to increase production 400,000 barrels a day every month until 2022.”
Triple A says it now costs about $49 to fill up a 15-gallon tank. Benton Harbor and St. Joseph are tied with Traverse City for the least-expensive gas, averaging $3.23 a gallon. Detroit’s $3.29 is the highest.
