Gas prices in metro Detroit fall after weeks on the rise

Gas prices in metro Detroit fall after weeks on the rise

But McTeague admitted regardless of prices, drivers will likely continue to fuel up in 2018, albeit with a grumble.

AAA's Lloyd Albert says that crude oil has been more expensive this year, and also in high demand. "We anticipate that consumers will see gas prices that will be higher than 2017, slightly lower than levels seen in 2014, with a yearly average of $1.19 per litre, the highest since 2014".

Prices on GasBuddy also show that most expensive regular gas in the state is going for $2.89 per gallon at a Shell station on the southwest side of Indianapolis. Falling demand tends to lead to a buildup in inventory and, thus, to lower prices during the period.

Gear up for higher gas prices, Mississauga! One year ago, the price was $2.35. Ultimately, OPEC bears much of the responsibility for cutting oil production, leading oil inventories to begin 2018 almost 50 million barrels lower than a year ago.

California and the rest of the nation are starting 2018 with the highest gasoline prices to begin a new year since 2014, both AAA and GasBuddy have reported.

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"The transition from "winter blend" to "summer blend" gasoline which takes place as refiners perform seasonal maintenance results in a reduction in the amount of gasoline produced and can increase gas prices dramatically", says the report.

The latest Energy Information Administration (EIA) report measures gasoline demand at a strong 9.5 million b/d, which is typical of the holiday season.

AAA's January 8 survey of prices in MA finds self-serve, regular unleaded averaging $2.48 per gallon.

In California, prices at the pump went up 12 cents per gallon in November as a result of the 10-year, $52 billion transportation package approved by the Legislature. It's only a few pennies, but usually gas prices are dropping this time of year.

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