Gas Experts Say Michigan Prices Will Begin to Drop
FOX 47 News
Gasoline prices are beginning to drop in mid-Michigan, after a significant jump nearly two weeks ago.
The sudden change comes as Exxon Mobil reports its gasoline producing Joliet, Illinois refinery is back online. Also, the Energy Information Administration is reporting a healthy increase in the amount of gasoline supply in the region, likely due to drivers cutting back on driving to avoid the high prices.
"The last seven days have seen some shocks at the pump for motorists in the nation's Great Lakes region," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. "But perhaps the best news is that the worst is now over and we expect some well needed relief the days again for areas of he Great Lakes, especially Michigan, Illinois, Wisconsin, Indiana and Ohio."
DeHaan says prices could fall fifteen to thirty cents per gallon in the next week.