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Posted: Monday, 04 August 2014 8:00AM

Gas Prices Down Sharply Over Past Month

Michigan drivers are getting a bit of a break at the gas pump over the past month. According to data released by Triple-A Michigan, prices have fallen 43-cents a gallon over the last 30 days. That drop is the steepest in the nation since July 4th. Locally, we're averaging $3.52 in St. Joseph and Benton Harbor, which is a penny higher than the state average and two cents higher than the national average for regular unleaded. The auto club points to several factors leading to lower prices over the last month, including refineries running at their highest rates since 2005 and a drop in domestic demand. Traders are watching events between Ukraine and Russia and Israel and Hamas closely, but those conflicts have not yet started to impact the market.


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