DEARBORN, Mich. – Gas prices increased from last week, AAA Michigan reports.
Michigan's current statewide average is about $2.42 per gallon, about 11 cents more than last week's average and about $1.27 less than this same time last year.
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This is the fifth week in a row that the statewide average weekly gas price has increased.
The current Metro Detroit average is about $2.38 per gallon, about 9 cents more than last week and about $1.27 less than this same time last year.
This is the fifth week in a row that Metro Detroit's average weekly gas price has increased.
Of the cities surveyed by AAA , the cheapest price for self-serve unleaded fuel can be found in the Metro Detroit area, where it's about $2.38 a gallon.
The highest average gas price can be found in the Traverse City area where it's about $2.49 a gallon.
Refineries are in the midst of conducting seasonal maintenance, a process that can limit fuel production and contribute to rising pump prices.
Bitterly cold weather in the Midwest has led to a number of refinery problems that may further impact production and cause temporary prices spikes.
Ample domestic supply is expected to keep a ceiling on prices, though there is a good chance that prices will continue to rise this spring.
Global crude oil prices remain volatile, with markets continuing to seesaw.
The balance between global supply and demand continues to weigh on prices.
Despite U.S. production companies reassessing plans for exploration and production amid shrinking profit margins, domestic crude oil inventories climbed to record levels and output rose to its highest level since 1973, according to a recent Department of Energy report.
Month-over-month prices have jumped in 47 states and Washington, D.C. Michigan placed third in the nation for the largest increase (+39 cents).