"The administration's move, combined with the switchover to summer blend, growing global demand, and shrinking supply, continues to fuel pump prices as we approach the summer driving season", said Jeanette Casselano, a AAA spokesperson.
The average gas price in MI is $2.93 a gallon which is up seven cents from last week and 52 cents from a year ago. A gallon of gas went for $2.34 a year ago.
Oil prices have seen a rapid climb in recent months, but far from being the end of a bullish run, oil expert Tom Kloza believes a number of forces could push crude even higher. The app and website have the most accurate and real-time fuel prices at over 140,000 unique stations in the United States, Canada, and Australia and is the most comprehensive money-saving companion while on the road.
Consumers with long memories may not think gasoline is that expensive. Late spring and summer travel is expected to be more costly this year as fuel prices touch almost every sector of the economy. That had led to gas prices being down the past couple of years. Analysts think chances of that record being broken anytime soon are slim.
"This is continuing to be more so about OPEC's long-standing production cuts that have removed the glut out of crude oil".