AAA Michigan shows this week's average gas price at $2.36 a gallon. The national average has increased 1.2 cents per gallon during the last month and stands 30.3 cents per gallon higher than this day one year ago. The highest regional report is $2.38 a gallon.
"Gas prices are falling now, but fundamentals are pointing higher", said Mark Jenkins, spokesman, AAA-The Auto Club Group.
The average price of a gallon of gas here this week was $2.33, roughly flat from a week ago, but almost 34 cents higher than a year ago. In Canada, rig counts have blossomed as well, where 207 (300%) more rigs are online versus a year ago.
But, experts warn that the decline won't last. Cave City motorists are paying an average of $2.16, Munfordville and Edmonton are both at $2.17 and Park City and Tompkinsville are at $2.19.
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The Bureau of Labor Statistics reported last week that consumer prices have risen 2.7 percent over the previous year, the largest price increase since 2012. "Gulf Coast refineries are moving into their peak maintenance season, causing them to reduce gasoline production at a time when demand is slowly rising".
The five states where prices fell the most were Iowa (down 3.6 cents), Oklahoma (2.8 cents), Kansas (2.7 cents), SC (2.6 cents) and Wisconsin (2.6 cents). Drivers in Akron, Ohio, are paying about $2.10 a gallon, while West Virginia pumps are selling gas on average for $2.24.
The cheapest gallon of gas in Chattanooga now is $1.89.