(WXYZ) — Gas prices are poised to have their lowest start to the new year since January 1, 2016, according to AAA Michigan.
Thirty-five percent of Michigan retailers have gasoline below $2 per gallon. Thursday's average price of $2.29 per gallon is the lowest since July 2017.
"Falling gas prices continue to be 'the gift that keeps giving' this holiday season," said Nancy Cain, spokesperson, AAA - The Auto Club Group. "Prices at the pump declined as AAA projected last week, largely due to weakness in the stock market and concerns about global crude oversupply. Although oil and gasoline futures have been on a rollercoaster ride this week, wholesale gas prices have held steady. Unless oil prices suddenly spike, prices at the pump should remain low through the end of the year."
Gas prices are at their lowest in Michigan since November 2016.