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Tue February 22, 2011
Middle East unrest may be felt in higher gasoline prices this summer
Unrest in the Middle East may soon affect gasoline prices in Michigan. Crude oil prices are approaching one hundred dollars a barrel, which is expected to increase the cost of gasoline globally.
Nancy Cain is with AAA Michigan. She says it’s too soon to predict whether or not the price for a gallon of regular unleaded will reach four dollars, like it did two years ago.
“Our all time high here in Michigan, we were paying four dollars ten cents a gallon. And that was when the crude oil per barrel price was on the world market as a hundred and forty dollars per barrel. So, we’re hopeful we’re not going to see that again.”
The current average price for a gallon of regular unleaded gasoline in Michigan is $3.18, a penny more than the national average.