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Sun August 17, 2014
Michigan gasoline prices entering 'volatile' next few weeks
An analyst predicts Michigan’s gasoline prices will be ‘volatile’ during the last few weeks of Summer.
GasBuddy.com’s Patrick DeHaan says a quiet Atlantic hurricane season and little disruptions to world oil supplies are keeping Michigan’s gasoline prices relatively low.
But DeHaan says some oil refinery issues in Illinois and Indiana may boost prices.
“I think for the next few weeks we could see some pricing volatility. But then some lower prices should return come late September,” says DeHaan.
But once the Labor Day holiday begins fading in the rearview mirror, DeHaan expects gas prices will begin to fall noticeably.
“I certainly don’t foresee $4 a gallon,” says DeHaan, “Believe it or not, this was the first year in several years that prices in Michigan haven’t hit the four dollar a gallon mark.”
Michigan gasoline prices did edge into the $3.90 range in June, before a steep decline in July and August dropped them close to $3.40 a gallon.
DeHaan says there’s a chance Michigan gas prices may fall below three dollars a gallon by the end of the year.