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Gas prices in metro Detroit continue to plummet, could soon drop below $3

Posted at 6:37 AM, Dec 02, 2022
and last updated 2022-12-02 06:37:24-05

(WXYZ) — Gas prices are hitting averages we haven't seen since the beginning of the war in Ukraine.

Right now, the average price of gas in metro Detroit is $3.32. That's lower than the 2021 average of $3.34.

At a gas station in Dearborn, gas is under $3, but in places like Southfield, gas prices are still around $3.40. Nonetheless, compared to the near $5 prices we say in summer, this drop is a huge relief.

The cause of this much-needed dip—the cold. People in Michigan aren't driving as much and the demand is down.

Even when considering the holidays, analysts speculate that oil prices are lower due to discussions at the European Union to place a price cap on Russian oil.

The national gas average is $3.47, a price officially lower than where we were when Russia invaded Ukraine. Prices can get lower through with analysts predicting that the national average could eventually be below $3.