Amidst the hustle and bustle of the holiday season, Americans are receiving the gift of affordable pump prices. As of December 14, the national average for gas is $3.10 per gallon, marking its lowest point in 2023. With fuel costs falling slowly each day, this average will likely slide below $3 per gallon by the end of the year. According to AAA, the main reasons are tepid demand and the low cost of oil, which is hovering around $70 per barrel.
Here in Michigan, the price of gas per gallon has dropped to $3.02, which is 17 cents cheaper than last week and 33 cents lower than last month.
Pump prices in Traverse City are some of the most economical in the state. At $2.94 per gallon, the average rate is 52 cents lower than it was at this time last year.
While fuel costs are slightly higher in Marquette, the current average of $3.20 per gallon signals a 22-cent reduction over the past month.
To find out more about gas prices nationally and locally, go here.