Amidst the hustle and bustle of the holiday season, Americans are receiving the gift of affordable pump prices. As of December 14, the national average for gas is $3.10 per gallon, marking its lowest point in 2023. With fuel costs falling slowly each day, this average will likely slide below $3 per gallon by the end of the year. According to AAA, the main reasons are tepid demand and the low cost of oil, which is hovering around $70 per barrel.
Here in Michigan, the price of gas per gallon has dropped to $3.02, which is 17 cents cheaper than last week and 33 cents lower than last month. Drivers in the Detroit metro area are seeing similar savings, where the average cost of $3.00 per gallon is 16 cents cheaper than last week and 38 cents lower than last month.
At $3.15 per gallon, the average pump price in Jackson is down 13 cents from last week and 28 cents from last month. Ann Arbor residents are currently paying 3.09 per gallon, signaling a 13-cent reduction from last week and a 32-cent decline over the past month.
To find out more about gas prices nationally and locally, go here.