I have an update on gas prices as we head into the summer. Three weeks ago, I told you about predictions that gas prices would go down this summer.
Turns out, that prediction was right on the money, with some stations now hitting below $3 per gallon.
Watch my report from a few weeks ago on the gas prices below
I check GasBuddy's "Gas Price Map" and there are a handful of stations in Adrian that are seeing prices at $2.99 or cheaper.
A little closer to metro Detroit, I'm finding prices around $3.15 per gallon.
According to AAA, the average the week of Memorial Day was $3.66, so seeing these prices is encouraging.
What I wanted to know from Patrick De Haan, the head of petroleum analysis at GasBuddy, is if the prices are going to keep going down.
“Do you see more stations around this area hitting below three dollars a gallon as we continue forward into the summer?” I asked.
“It’s probably going to be a handful here and there through the course of the summer. I will say that the cost of labor has gone up, the cost of doing business has gone up and part of that is kind of leading to a new era if you will for how much gas stations make per gallon, where I am going with that is it may be a little harder to see every station below three dollars this summer," De Haan said. "But if things go well, if there aren’t any refinery outages, if we don’t get any major hurricanes over the course of the summer, we could see more and more stations below that dollar mark as we get towards the end of the summer.”
He tells me he thinks we could see even more stations below $3 per gallon come October and November, when demand for gas goes down and we switch back to a cheaper winter gas blend.
