Gas prices drop once again in metro Detroit, hit 2-year holiday low in MI

Posted at 5:14 AM, Dec 17, 2018
and last updated 2018-12-17 05:14:43-05

(WXYZ) — Just in time for the holiday season, gas prices continue to fall across metro Detroit and the state, hitting a 2-year low in Michigan.

According to AAA Michigan, gas prices across the state dropped about 8 cents per gallon, and on Sunday, they averaged $2.26 at the pump. That's 25 cents less than a month ago and 19 cents less than this time last year. Now, drivers are saving an average of $13 on a full tank of gas.

Pump prices in metro Detroit are about 2 cents higher than the state average at $2.28 per gallon, but that's still 5 cents less than a week ago an 28 cents lower than last month.

"Holiday travelers will have more jingle in their pockets after they fill-up the family vehicle," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Prices are already at 2-year lows for the holidays, and should slip even lower in the next two weeks. Oil prices have been unable to gain significant upward momentum after OPEC announced plans to cut production. The price of crude declined last week and should drop again this week, because industry analysts are skeptical that OPEC's plan could rebalance what is currently an oversupplied market. If oil prices drop even further this week, that would reduce the cost of producing gasoline and allow additional price cuts at the pump."

Christmas Day prices in Michigan and Detroit have risen every year since 2015. They averaged $1.91 per gallon in 2015 in metro Detroit, $2.39 a gallon in 2016 an $2.62 last year.

The most expensive prices can be found in Marquette, Ann Arbor and metro Detroit while the cheapest are near Flint, Jackson and Saginaw.