OUCH! Michigan gasoline prices close to record high
Motorists are within a few pennies of paying more for gasoline than ever before in Michigan.
After another 10-to-15 cent spike today, Michigan’s average price for gas stands at $4.21 a gallon. The all-time record is $4.26 set back on May 3rd, 2011.
The higher pump prices are hurting everyone, including gas station owners.
“Quite frankly, gasoline has not been anything much more than a 'loss-leader' for most stations for a long period of time now,” explains Mark Griffin, president of the Michigan Association of Convenience Stores, “They make their money off the in-store sales, not at the pump.”
Griffin says when customers pay more at the pump they spend less inside the store.
Refinery problems are blamed for the 30-cent increase in gasoline prices in Michigan since last week.