Michigan Gas Prices Drop 8 Cents Amid Middle East Tensions, Analysts Warn of Rise

Gas prices in Michigan have dropped by 8 cents from last week to an average of $3.09 per gallon, marking a 14-cent decrease from last month and 49 cents less than the previous year. Drivers are paying about $46 for a full 15-gallon tank, saving roughly $11 compared to peak prices in July 2024, with the lowest prices found in areas like Chippewa County and Traverse City. Despite the recent dip, escalating tensions and conflict between Israel and Iran have driven oil prices up to over $75 a barrel, prompting analysts to warn of potential gasoline price increases by 10 to 20 cents in the coming weeks. These geopolitical developments pose political challenges for President Donald Trump, who has pledged lower gas prices amid nationwide protests. Regional price variations persist, with higher averages in Ann Arbor and Metro Detroit compared to other parts of the state. AAA advises motorists to use strategies such as combining errands, shopping around, and enrolling in rewards programs to reduce fuel costs.