If you think gas prices are low now, there’s a chance you haven’t seen anything yet. As of Tuesday morning, GasBuddy pegs Michigan’s average gas price at $1.49, the lowest its been since the website began keeping track of gas prices more than a decade ago. Kalamazoo and Genesee counties have the lowest average prices at $1.39 per gallon, and analyst Patrick DeHaan is expecting prices could tumble quite a bit soon in a few markets.
DeHaan points to a 15¢ drop in wholesale prices yesterday, which are the prices gas stations pay for the fuel, along with very high gasoline inventories and the fact Midwestern refineries have been running without any major problems over the past several weeks for his new prediction. He says there is the chance that prices could fall to 99¢ a gallon before spring. DeHaan says the markets which will likely drop that low first are Sparta, Michigan, which is north of Grand Rapids, and Toledo, Ohio. Additionally, he stands firm on his belief that we won’t be paying more than $2.75 on average for gasoline this summer.
Prices in Berrien County are averaging $1.49 this morning according to GasBuddy’s website, while they’re at $1.45 in Van Buren County and down to $1.42 in Cass County.
