Don’t be surprised when you pass by a gas station this week and see higher prices. The cost of gas skyrocketed overnight from Wednesday to Thursday with the average price for a gallon of regular gas in the state now at $4.33. That’s a 10 cent jump from Wednesday’s average. Gus Buddy’s Patrick DeHaan says Midwest oil refinery fires are to blame for the price hike. Meanwhile, many are also worried about this week’s announcement from OPEC that it’s slashing oil production by two million barrels a day. However, DeHaan told Michigan News Network that impact will be minimalized for Michigan drivers.
“The impact won’t be direct to Michigan gas pumps,” DeHaan said. “That is, with relief on the way because of refinery improvements, prices will fall, but with OPEC’s decision to cut production, prices won’t fall quite as far as they would otherwise with a basic impact of the decision I would estimate at 10 to 30 cents a gallon.”
DeHaan says the price per gallon will drop below $4 in the next few weeks. That’s as long as there are no new refinery fires.
