Just in time for the summer driving boom, the days of cheap gas prices may be over for some time. As of this past Friday, the average price for regular-unleaded in Michigan was $1.77 per gallon, according to GasBuddy.com. That is up from $1.50 only a week earlier.
“It’s becoming clear that those very low gas prices during the COVID-19 pandemic are behind us, just as gasoline demand grows across the country as states slowly reopen,” said Patrick DeHaan, Head of Petroleum Analysis at GasBuddy, a free online service which tracks fuel prices by state, city and region.
DeHaan went on to say that the reason for rising prices is because refineries have slowed production over the past month or so, and they have not been flooding the market with excess gasoline. Now, after weeks of quarantine, many people are ready to get back on the road and anxious to go to stores, beaches, and parks. This rise in demand is pushing gas prices up. The result is that drivers can say goodbye to historically low gas prices.
Reporting for WGRT – Marty Doorn