Average retail gas prices take a tumble in Michigan

According to the gas price website called MichiganGasPrices. com, the average retail gasoline prices took a tumble in Michigan last week, with a drop of 13.8 cents a gallon.

However, despite the fall, the average retail gas price in Michigan on Sunday – after including the changes in gas prices over the past week - were 27.2 cents a gallon more than the prices on the same day a year back; and also 5.5 cents a gallon higher than the prices a month back.

Nonetheless, the fall in the average retail gas price in Michigan underscores that the average gas price in the state is clearly better than the national average which, during the last week, witnessed an increase of 0.6 cents a gallon to touch $3.34 a gallon.

The most recent national average figures show that the average gas prices have witnessed 25.3 cents a gallon increase year-on-year; and 11.8 cents a gallon increase month-on-month.

Commenting on the present ‘average gas prices’ situation in the country, Patrick DeHaan - a senior petroleum analyst at GasBuddy. com – said that the oil prices witnessed a gentle fall towards the end of last week because of the “somewhat cooled” tensions with Iran.

Noting that even though there appear to be “few expectations” of the continued easing of tensions between Iran and the West in the coming months, DeHaan said that he still expects “gasoline prices to move very little in the next week, and, in some areas of the U. S., gasoline prices may fall this week.”