Gas prices in Michigan are stable at $3.03, but upcoming policy changes may impact future costs
Detroit: Gas prices in Michigan have been a bit of a rollercoaster lately. They went up 11 cents last week but dropped back down to $3.03 a gallon for regular unleaded. So, car owners can breathe a sigh of relief.
A spokeswoman for AAA, Adrienne Woodland, mentioned that lower prices are popping up across the state. If demand keeps dropping and stocks stay strong, we might see prices fall even more.
But here’s the kicker: it’s tough to say how gas prices will change with a new president in the mix. Right now, filling up a 15-gallon tank costs about $45, which is down from last summer’s peak. It’s also slightly lower than last month but a bit higher than this time last year.
Interestingly, gas demand has recently ticked up, while domestic gasoline stocks have increased too. But production has dipped a bit, averaging around 8.9 million barrels daily.
With a new administration coming in, it’s hard to predict how this will all shake out. President Biden’s energy policies are quite different from what Trump has promised. Biden just moved to ban new offshore drilling, likely to block Trump from expanding it once he takes office.
Biden’s decision aims to protect various coastal areas from future oil and gas leasing, citing concerns over climate change and potential damage to cherished locations.
On the flip side, Trump has made it clear he plans to reverse that ban once he’s inaugurated, emphasizing the U.S.’s vast oil and gas resources as a major economic asset.
As for gas prices around the state, Ann Arbor is seeing the highest at $3.09, while Traverse City has the lowest at $2.88. It’s a mixed bag out there!
