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7/31/23 - Gas Prices Spike As Heat Wave Continues

Monday, July 31, 2023 at 7:14 AM

Gas prices in Michigan spiked 18 cents from a week ago. Image courtesy of Unsplash. 7/31/23.

Analysts suggest high temperatures across the country may have an affect on gasoline prices.

The high heat in many portions of the country may be affecting our wallets. Gas prices have spiked 18 cents over the last week, and we are paying the price.

"Michigan motorists are seeing the highest gas prices in over three months."  says Adrienne Woodland with AAA-The Auto Club Group. "With supplies tight, if demand climbs, pump prices will likely follow suit."

Those tight supplies may be the result of higher temperatures in other portions of the country.

Analysts suggest drivers are cranking up the AC, and that’s affecting fuel consumption. With more consumption, there is lowered supplies and in turn increasing costs.

We are paying 3.87 on average for a gallon of self-serve regular. We are paying 11-cents more than this time last month, but still 56 cents less than this time last year.

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