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Gas prices fall below $2

Gas was at $1.92/gallon at press time Wednesday in Cedar Springs. Post Photo by L. Allen.

Gas was at $1.92/gallon at press time Wednesday in Cedar Springs. Post Photo by L. Allen.

Gas prices took a significant drop in the last week, and the average in Michigan fell below $2 gallon last week Friday, for the first time since January 28, according to gasbuddy.com. Aside from January, the last time gas was this low was in 2009.

“Oil prices seem likely to spend some time under $40 per barrel, also some of the lowest prices witnessed since the Great Recession,” said Patrick DeHaan, GasBuddy senior petroleum analyst. “It’ll come in handy not only in the week ahead, but for the holiday season as well. Three main factors are leading to the low levels we’re seeing—a seasonal decline in gasoline demand, low and falling oil prices, and a refinery maintenance season which is quickly wrapping up,” he added.

Gas was at $1.92/gallon at press time Wednesday in Cedar Springs. Post Photo by L. Allen. This chart shows the average gas prices in Michigan since 2009.

Gas was at $1.92/gallon at press time Wednesday in Cedar Springs. Post Photo by L. Allen.
This chart shows the average gas prices in Michigan since 2009.

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