Michigan Gas Prices Fall 28 Cents in a Week

On November 2, Michigan motorists faced a mean price of $4.55 per gallon for standard unleaded gasoline, down 28 cents from a week earlier. A 15-gallon fill-up cost about $68. The state average was still $1.57 higher than a year ago and 2 cents above the level a month earlier.

The highest listed regional averages were in Ann Arbor at $4.59 per gallon, Metro Detroit at $4.58 and Benton Harbor at $4.56. Flint had the lowest average, at $4.43, followed by Lansing at $4.45 and Marquette at $4.46.

Nationally, gasoline supplies rose to 209.2 million barrels from 205.3 million, while demand fell to 8.38 million from 8.98 million. Production declined to 9.24 million barrels a day from 9.75 million. U.S. crude inventories fell by 3.1 million barrels to 412.5 million, about 3% below the five-year average.

AAA said prices dropped in nearly every state over the week. GasBuddy petroleum analyst Patrick De Haan attributed the wider decline to refinery maintenance winding down and seasonal demand easing as cooler weather arrives. At Friday’s close, West Texas Intermediate crude rose $3.80 to $103.27 a barrel.