gasoline prices

An annual summer energy appraisal by the Michigan Public Service Commission says high gas and diesel prices aren't going away soon, due to "geopolitical pressures," especially the war against Iran and the closure of the Strait of Hormuz.

Some flights are less than 100 miles, and they're the backbone of the U.S. air system, linking small towns and big cities. But short routes were in decline even before jet fuel costs spiked.

The governor is declaring an energy emergency in the wake of high fuel prices around the state.

Michigan drivers are paying the highest prices at the pump since the summer of 2023, according to an analysis by AAA of Michigan.

From waiving the Jones Act to rerouting oil through the Red Sea, governments are doing their best to make up for the crisis in the Strait of Hormuz, but prices are still rising.

“Crude oil was at $65 a barrel. At the end of Friday, it was above $90 a barrel. Just to kind of put in perspective how much crude oil has increased within the last week and a half," said Adrienne Woodland, AAA Michigan spokesperson.

The average price of regular gasoline in Michigan dropped by 13 cents this week, according to an analysis by AAA Michigan.

The EPA has given Michigan and three neighboring Midwest states temporary clearance to stockpile and sell fuel types that are typically restricted during summer months.

When the BP Whiting Refinery was damaged by fire, a wholesale price spike eliminated the price drop that happened a couple of days before.

The national average price of gasoline has fallen below $4 a gallon. These are four key factors that could determine what happens next with prices at the pump.