Lower gas prices at the pump expected

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DEARBORN, MI. (WILX) -- Gas prices are falling in Michigan and some are wondering if we could see $2.00 gas any time soon.

AAA of Michigan reports that the price of gas is on the decline and fell another .10 just this week.

They say that drivers in the state are paying an average of $2.41 per gallon for regular unleaded, which is 24 cents less than the same time last month, and about 31 cents less than this time last year.

In its latest weekly report, the Energy Information Administration data shows that demand for gasoline grew from 9.59 million b/d to 9.78 million b/d last week.

AAA says that growing demand, amid tight gasoline supplies, has contributed to a nominal increase in the national average.

"Despite the increase in demand nationally, Michigan's gas prices have continued to decline," said Adrienne Woodland, spokesperson, AAA - The Auto Club Group. "The Michigan state average is at its lowest level since February."

They say the most expensive gas price averages are found in Ann Arbor ($2.51), Metro Detroit ($2.49), and Marquette ($2.48).
And the least expensive gas price averages are in Saginaw ($2.25), Grand Rapids ($2.29), and Jackson ($2.31).

According to GasBuddy price reports, the cheapest station in Lansing is priced at $2.14/g while the most expensive is $2.79/g, a difference of 65.0 cents per gallon.

Patrick DeHaan, head of petroleum analysis for GasBuddy, said, "With such strong economic data, the picture is painted that we could see improving demand for oil and thus prices rising last week. While it may not be immediately noticed at the pump as gasoline demand continues to be weak in the off-season, it certainly could lead to a more noticeable impact next summer should nothing change until then. Ahead of Thanksgiving, last week's oil jump may derail falling gas prices, though we still may see prices drift lower, the good economic news means prices will not drop as much as they could have otherwise."

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