Report: Gas prices in Michigan are lowest in seven months

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DETROIT (WILX) -- The prices you've been paying at the gas pump have been the cheapest in more than half-a-year, according to a report out from AAA Michigan.

The report released Monday morning shows the statewide average price for a gallon of regular unleaded gas is $2.72.

That amount is 39 cents then this year's high and the same as this time last year.

AAA Michigan says gas prices continued their downward trek last week, declining another 9 cents. The state average declined for the 10th consecutive day on Sunday, for a total discount of 12 cents.

·Most expensive gas price averages: Marquette ($2.89), Ann Arbor ($2.81), and Metro Detroit ($2.76)

·Least expensive gas price averages: Grand Rapids-Muskegon-Holland ($2.65), Benton Harbor ($2.66), and Jackson ($2.66)

"Michiganders are saving 40 cents per gallon, compared to when gas prices peaked during Memorial Day weekend," said Nancy Cain, spokesperson, AAA - The Auto Club Group.

"Gasoline is becoming less expensive to produce-and-sell thanks to lower crude prices and cheaper-to-produce winter blend fuel. Retail prices have not quite caught up with declines on the wholesale side, so motorists should see another round of discounts this week. However, fuel prices definitely have the potential to reverse course based on any fluctuations in the stock market due to Election Day and the activation of U.S. sanctions against Iranian crude. Regardless, AAA believes the highest prices of the year are behind us."