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Michigan Gas Prices Ease Back About 20 Cents in the Past Week, AAA Says
AAA said demand rose while supply and production fell, and U.S. crude inventories dropped 7.9 million barrels, keeping prices volatile.
Michigan gas prices fell 20 cents to $4.63 per gallon for regular unleaded on Tuesday, according to AAA, with the decline occurring over the Memorial Day holiday weekend.
Patrick De Haan, GasBuddy's head of petroleum analysis, attributed the decline to 'renewed optimism surrounding a potential U.S.-Iran agreement' pushing oil prices lower, easing geopolitical pressure on energy markets.
Supply tightened as domestic gasoline inventories fell from 215.7 million barrels to 214.2 million, while demand rose from 8.75 million to 8.76 million barrels per day, according to the Energy Information Administration.
Despite the relief, Michigan drivers still pay $4.63 per gallon—63 cents more than April and $1.42 more than May 2025—with Michigan joining 43 states recording price drops amid four-year-high Memorial Day costs.
Adrienne Woodland, spokeswoman for AAA-The Auto Club Group, cautioned that 'continued volatility and higher crude oil prices could quickly push pump prices higher again,' though experts predict relief in coming weeks.