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Why gas prices are plummeting in Washtenaw County and statewide

Pumping gas
Future Atlas
/
Creative Commons
Pumping gas

Gas prices in Washtenaw County and across the state are continuing to tumble. Prices at the pump are down $0.83 just in the past month.

AAA says the price at the pump fell $0.20 a gallon this week for the second consecutive week.

AAA Michigan spokesperson Adrienne Woodlandsays the drop comes because refineries are back up and running, bringing in more oil stock to the state. Also, she says, because abarrel of crude is continuing its downward trend.

A lot of that drop, she says, has to do with China’s COVID lockdowns.

“China is certainly one of the biggest oil users in the world. And so, that certainly has an impact of them being on lockdown and not using as much gas and oil."

So what happens to the pump price when holiday travel kicks into gear in the next couple of weeks? With the current volatile market, she says, she doesn’t have an answer to that just yet.

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Cathy Shafran was WEMU's afternoon news anchor and local host during WEMU's broadcast of NPR's All Things Considered.
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