Gas prices declinePublished 10:26pm Monday, May 21, 2012
Average retail gasoline prices in Michigan have fallen 5.5 cents per gallon in the past week, averaging $3.72 per gallon Sunday. This compares with the national average that has fallen 2.8 cents per gallon in the past week to $3.70 per gallong, according to gasoline price website MichiganGasPrices.com.
Including the change in gas prices in Michigan during the past week, prices yesterday were 14.3 cents per gallon lower than the same day one year ago and are 9.5 cents per gallon lower than a month ago.
The national average has decreased 15.1 cents per gallon during the past month and stands 13.7 cents per gallon lower than this day one year ago.
“With Memorial Day a week away, it’s time to put to bed an old myth that gasoline prices rise ahead of a major holiday,” said Patrick DeHaan, a senior petroleum analyst with GasBuddy.com.
“Average gasoline prices will likely continue to decline in the days ahead of Memorial Day, but folks will still say come next year that prices went up over the weekend this year. It’s a sign of how sensitive motorists become to gasoline prices around the holidays, nothing more, and most of the time, the myth isn’t true.
“This year will be one of those years – unless you’re on the West Coast, prices have been slowly coming down,” DeHaan said.
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