Gas prices rise above over $4 a gallon across Michigan

Posted at 6:01 AM, May 02, 2022
and last updated 2022-05-02 06:05:00-04

(WXYZ) — The statewide average on gas is once again topping $4 a gallon.

AAA says drivers are now paying $4.12 a gallon to fill up their tanks. That's up 18 cents from just last week.

And from farms to highways to railways, the cost of diesel fuel will have a direct impact on the consumers.

This means we could be paying more for energy, food, and other items.

"Well this means a lot to me due to the fact that I work for a group home and we have to take people back and forth to locational programs and with gas going up to like $4.15 a gallon it's difficult to ensure that we can hit all the counties and do what we have to do without running out of gas," on Michigan driver said.

Experts say fuel prices should stay around the high $3 to low $4 mark through the summer.

But diesel prices are now hitting record highs with the average at $5.30 a gallon. That's up $2 compared to this time last year.

In other areas of the country, diesel prices have topped $6 a gallon.

Several factors are contributing to the rise in prices including the U.S. Energy Policy, the war in Ukraine, supply and demand, and inflation.

Last month President Biden announced a historic release from the U.S. Oil Reserves to bring down the price of fuel.

"It may not have led to direct relief or noticeable direct relief on gas prices, but it also has worked more effectively to cap how high oil prices will go," the head of petroleum analysis at Gas Buddy Patrick De Haan said. "It is acting to prevent oil prices going above and beyond where they were earlier this year."