DETROIT (WXYZ) — Beginning this weekend, Patrick De Haan of GasBuddy says, the Great Lakes region will see gas prices begin to fall below $5 per gallon. A welcome trend for all.
“Motorists in the U.S. are now spending nearly three quarters of a billion dollars more on gasoline every day than a year ago,” De Haan said about the difference in gas prices at the start of COVID-19 when compared to now.
The sudden increase in oil consumption as lockdown measures were lifted and as people went back to pre-COVID activities, De Haan says, put additional strain on already struggling oil production and, as a result, driving prices higher.
The news comes as U.S. domestic oil production hits 12 million barrels per day, the highest since the start of the pandemic.
