Michigan gas prices ease but remain well above last year

Michigan drivers are paying an average of $4.16 per gallon for regular gasoline, down 11 cents from a week ago and 10 cents from a month ago. Prices remain 85 cents higher than at the same time last year.

A 15-gallon fill-up now costs about $62, roughly $11 more than last August’s peak price. Metro Detroit’s average fell about 2 cents from last week to $4.21 per gallon, but remains 91 cents above last year’s level.

Lower gasoline demand and increased domestic supply helped push prices down. U.S. crude inventories rose by 4.4 million barrels to 428.8 million, matching the five-year average for this time of year.

Read the full story at wnmufm.org.