AAA: Gas prices slowly sliding toward seasonal savings

AAA: Gas prices slowly sliding toward seasonal savings

AAA: Gas prices slowly sliding toward seasonal savings

Gas prices in MI are up about 3 percent from last week to $2.57 per gallon, which AAA said was because gasoline inventories in the region are about 3.5 million barrels below where they were a year ago.

Gasoline prices rose steadily after Hurricane Harvey swept through Louisiana and Texas in late August, causing shutdowns of refineries that reduced the supply of gasoline and increased prices.

Gas prices shot up 54 cents a gallon in 17 days, peaking at $2.71 between September 7 and 16.

"Prices were inflated after Harvey, and they are still slightly inflated based on where oil is", Jenkins said. All average retail prices in this report are for a gallon of regular, unleaded gasoline.

The national average has fallen 1.6 cents per gallon in the last week to $2.45 a gallon, according to GasBuddy.

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In the Great Lakes region, the most volatile market in the country, numerous states there have the most expensive gas in the country. The cycle then repeats.

Now that gasoline production, shipments and inventories are being restored, prices have retreated 33 cents, though they've come down much slower than they went up. Oil prices, meanwhile, gained nearly a dollar last week after the EIA reported a 5.7 million barrel decline in oil supply and a drop in production of 1 million barrels per day.

Regular Unleaded Gasoline: Gas prices keep falling in the southeast. The average price for a gallon of gas in California was $3.03 on Tuesday. The national average has been below $3 per gallon for close to three years in part because of lower crude oil prices, which are still about half what they were in 2014.

Patrick DeHaan, head of petroleum analysis for GasBuddy, believes the national average might continue to decline for the next few weeks.

Barring some unforeseen disruption in production/supply, Redman said fuel prices should continue to fall now that the transition to winter fuel is complete.

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