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Gasoline prices continue to ease.
AAA Michigan’s ongoing survey pegged the average price of a gallon of unleaded regular yesterday at $3.52. That’s 15 cents lower than a week ago, 42 cents lower than a month ago, but still 33 cents higher than a year ago.
Prices on the Keweenaw Peninsula continue to hold above the state average, with Houghton County at $3.93, and Keweenaw County at $4.00. In contrast, Ontonagon County is at $3.50, and Baraga County at $3.41.
Analysts note that domestic gasoline supplies have increased, while demand has remained soft, so price declines could continue short-term. On the other hand, crude oil prices are rising, and supplies have tightened, which could push prices back upward over the long term.
