Gas prices 50 cents more than this time previous year, AAA says

14 May, 2018, 18:23 | Author: Mary Valdez
  • Gas prices 50 cents more than this time last year, AAA says

The average price in Michigan is $2.93 - 7 cents more than last week and 52 cents more than past year, according to Dearborn-based auto club AAA Michigan.

The result is gas that is 57-cents per gallon more expensive this year than last.

Gas prices haven't changed in the last week in the Pittsburgh area, but are in danger of hitting $3 per gallon nationally for the first time since 2014, according to GasBuddy. That was followed by the Punta Gorda and the Orlando markets where prices stood at $2.79 per gallon on Sunday.

Flint is up 11 cents per gallon at $2.89/gallon.

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"Some of the factors at play in the rising prices (are) President Trump's US withdrawal from the nuclear deal with Iran and oil supplies that have continued to drop as USA exports surpass Venezuela - a surprising feat given Venezuela has the largest proven oil reserves in the world", DeHaan said.

Jenkins noted that there were a number of factors for the price increases including higher demanded with the start of summer looming, less supply, tensions with Iran and the highest oil prices in four year. At the start of last week, the average gas price in Florida was $2.73 per gallon.

AAA Michigan says average gas prices statewide have risen about 7 cents in the past week.

AAA Michigan surveys daily fuel prices at 2,800 gas stations across the state.

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