Michigan drivers should fill up gas tanks before Monday, expert says
The Detroit News • • business
Key Points:
- Michigan gas prices have been declining since early May, dropping from a high of $4.87 per gallon on May 2 to $4.74 on May 9, following refinery restarts after earlier shutdowns.
- Prices initially surged due to oil supply disruptions caused by Iran's closure of the Strait of Hormuz and refinery outages in Indiana and Illinois.
- New refinery problems, including an explosion at the Chalmette, Louisiana refinery, are expected to drive gas prices back up starting Monday.
- GasBuddy analyst Patrick De Haan warns Michigan and surrounding states could see prices return to previous highs due to these refining issues and typical regional price cycling practices.
- Drivers are advised to fill up their tanks before Monday to avoid paying higher prices during the anticipated increase.