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Mon November 28, 2011
Gas prices jump in Michigan
Gasoline prices spiked 20 to 25 cents across Michigan today.
Patrick DeHaan is with GasBuddy.com. He says the strong start to the holiday shopping season is pushing up speculation in the crude oil market and that in turn is affecting wholesale gasoline prices.
“A lot of stations have just got close to the line where they’re no longer profitable," says DeHaan, "So, looking at a higher cost that they were paying for gasoline they decided that they had to raise their price.”
DeHaan expects gas prices will drop back down, but not until next weekend.