Michigan gas prices dip but remain higher than last year

Regular gasoline in Michigan averaged $4.40 per gallon on Oct. 7, down about 18 cents from a week earlier but still $1.37 higher than a year ago. Diesel prices averaged $6.56 per gallon, compared with $3.70 a year earlier.

Michigan State University associate professor Antonio Doblas‑Madrid attributes the price rise to the Iran conflict’s impact on global oil supplies and shipping, as well as refinery disruptions, low fuel inventories, and limited refining capacity. He notes that crude prices could drop quickly if the conflict ends, but they probably would not return to normal right away.

State officials have highlighted the issue, with Attorney General Dana Nessel saying families are “more exposed than ever to the swings of global oil prices,” and Gov. Gretchen Whitmer earlier this year noting that Michiganders are “wincing as they see the number on the gas pump climb higher.”

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