LIVONIA, Mich. (WXYZ) — For three weeks in a row, average gas prices in Michigan continue to decline. In Southeast Michigan, the prices have been hovering around $5.
But the real question on everyone’s mind is will the gas prices go up.
Patrick De Haan from GasBuddy says gas prices depend on multiple factors and it's uncertain which way they will go in the coming weeks.
"An economic slowdown could develop and that could push them lower and at the same, we can see a major hurricane that could disrupt the flow of oil and gasoline out of the Gulf Coast, and so there is a possibility it could shoot up, but it's uncertain when and if that could happen next," said De Haan, head of Petroleum Analysis at GasBuddy.
Patrick says the current price drop is due to:
- Refineries boosting production over the past few weeks, driving the supply up.
- Oil prices dropping due to the fear of a possible recession.
As for what will it take for Michiganders to see gas prices go back to last year's average of $3.20, De Haan says, "When Russia will exit Ukraine and how that looks in terms of will Western countries start to buy Russian oil after that concludes, and if and when it does and that’s the biggest question."
Meanwhile at the gas pump, a retiree, Robert Peacock just filled his car for $90. Peacock is frustrated with the current gas prices because he remembers the time when he used to fill his car for $20.
"Its taking money out of my pocket," Peacock said.
Kiarra Williams works as a realtor and her truck easily clocks in over $100 every other day. But even with gas prices currently averaging around $5 a gallon, Williams says it doesn't help and she may even consider switching cars.
"You know, sometimes you got do what you got to do. And if they continue to rise and we are talking about $6 and up, then yeah, we got to make a few adjustments," Williams said.
In fact, Williams is already seeing the trend of people wanting to live closer to work due to high gas prices.
"Homes closer to work have always been a thing, but it's more considering now, especially if your job is an hour away," Williams said.
However, folks are also annoyed with the fluctuating gas prices from one pump to the next. But this where De Haan believes consumers can benefit by shopping around for the best rate.
"I don’t think I’ve seen nearly any stations increase their prices for the last few weeks. Now, some may be sitting on expensive gasoline, some stations may have different strategies when it comes to lowering prices," De Haan said.
Meanwhile at Costco, regular gas is about $4.69. Waiting in line, Cheryl Hitter says she would rather patiently wait for her turn to fill than pay more at other gas stations because every cent counts.
"It's frustrating because you are limited to everything you do. You can't make the trips you do, you can’t drive as far as you used to," Hitter said.
Meanwhile, electric car owners like Ray Rahul are rocking an ear-to-ear smile as they don't have to pay an arm and a leg at the gas pump.
"I mean, I'm saving the most money this year. It's unfortunate for everyone else. Don’t get me wrong, I'm not happy about the gas prices. I feel eventually, most people will have electric vehicles and they won't have to worry about stuff like that anymore," Rahul said.
De Haan also recommends using apps like GasBuddy, Google Maps or Waze to search for gas stations offering the best fuel rates.
