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Home » Michigan gasoline costs rose 42 cents in a single week, hitting highest peak in years

Michigan gasoline costs rose 42 cents in a single week, hitting highest peak in years

Michigan drivers are watching their totals tick up on the pump as the price of gasoline rose 42 cents in only one week.

The weekly report from AAA marks this enhance as the largest of the 12 months and the very best common worth since 2013. The common worth per gallon of unleaded gasoline is $3.97, slightly below the nationwide common of $4.01, in keeping with AAA.

Michigan motorists are paying a median of $59 for a full 15-gallon tank of gasoline representing a rise of about $8 from when costs had been at their highest final November.

Gasoline costs are inching up in the direction of document highs seen in Could 2011 when Michiganders paid $4.26 per gallon, in keeping with AAA.

Within the U.P, Marquette’s gasoline costs have tipped over the watermark to $4.07. Detroit and Benton Harbor are additionally seeing the state’s costliest gasoline costs at $4 on common.

Michigan cities on the low finish of the vary are Traverse Metropolis at $3.86, Grand Rapids at $3.93 and Ann Arbor at $3.94.

RELATED: Gasoline costs are nearing document highs – right here’s the final time they topped $4 per gallon

(Can’t see the chart? Click on right here.)

Consultants have been watching gasoline costs close to earlier peak costs as Russia’s invasion of Ukraine impacts provide. Russia is the No. 3 oil producer on the earth, behind the USA and Saudi Arabia. Russian crude oil accounts for about 3% of U.S. crude oil imports and 1% of crude oil processed within the U.S., in keeping with ABC Information.

Manufacturing, pipelines and the pandemic are all components weighing into the rise on a nationwide degree.

Michigan drivers additionally occur to pay the sixth-highest gasoline tax within the nation.

On the pump, Michigan drivers had been taxed 64.1 cents per gallon in January when mixed with different Michigan taxes and charges and the federal gasoline tax. The tax contains gross sales tax so month-to-month totals will fluctuate month to month primarily based on worth.

Beginning within the new 12 months, a 1-cent automated enhance to the state gasoline tax was applied. The regulation elevated the gasoline tax from 26.3 cents per gallon to 27.2 cents per gallon.

The state tax hadn’t modified since 2017, when it elevated from 19 cents to 26.3 cents. Now, Michiganders can count on the gasoline tax to go up yearly due to the best way the regulation is written. Beginning in 2022, the regulation mandates the state gasoline tax to extend each Jan. 1 by both 5% or by the state’s inflation metric – the lesser of the 2.

Extra on MLive:

Michigan’s gasoline tax went up on Jan. 1, ranks amongst nation’s highest

Will Michigan decrease its tax charges? Right here’s how we evaluate to different states.

Michigan gasoline costs are climbing. Consultants at the moment are maintaining a tally of Russia.