Michigan gasoline prices have been dropping essentially since Election Day. The same is true of diesel prices, but not as much.
AAA Michigan said as of Wednesday, the average price for a gallon of regular unleaded gasoline in Michigan was hovering around four dollars. The price of a gallon of gas has dropped 40 cents since the day after the election.
Michigan diesel prices have also declined, but only by 19 cents during the same period.
Analysts said the decline is likely tied to the switch to a cheaper winter blend of gasoline, along with the hope for diplomacy with Iran and increased crude oil shipments from the Persian Gulf.
But industry analyst Patrick DeHaan points to seasonal factors behind most of the decline.
“Americans simply don’t drive as much in colder weather,” DeHaan told ABC News, “Refineries are processing more oil, and there’s more gasoline and diesel as a result of that.”
DeHaan adds the future of the price decline depends in part on whether President Donald Trump re-escalates tensions with Iran.
