Michigan Gas Prices Are On The Rise, What’s The Highest It’s Ever Been?
Michigan gas prices are on the rise.
You definitely know this if you've filled up your vehicle recently. Are these the highest gas prices Michiganders have ever seen? Before we get an answer to that question, let's first look at why gas prices are rising.
Why are gas prices rising?
There are several theories as to why gas prices are on the rise in Michigan and the country.
The Pandemic: One reason is that two years ago at the begging of the pandemic, gas demand plummeted which caused prices to drop. As it appears we are close to the end of the pandemic, more people are vaccinated and boosted and feel comfortable going out and doing things again. This is leading to an increase in demand for fuel, and now the companies are trying to catch up.
War In Ukraine: Russian President Vladimir Putin's decision to recognize the independence of breakaway territories in Ukraine this week drove the price of crude oil up to nearly $100 per barrel according to the Independent
What's the highest gas price in Michigan history?
According to AAA regular unleaded gas was $4.259 on May 4th, 2011. At the time of this article, the current average price of a gallon of regular unleaded gas in Michigan is $3.359. Going back one year the average price for a gallon of gas in Michigan was $2.626.
What is the highest diesel price in Michigan history?
According to AAA diesel was $4.865 on July 17th, 2008. At the time of this article, the current average price of a gallon of diesel in Michigan is $3.879. Going back one year the average price for a gallon of diesel in Michigan was $2.869.
There is a very real possibility that Michigan and the United States could see record-high prices if the war in Ukraine continues to escalate.