(CBS DETROIT) — Michigan’s average gas price is trending downward, dropping by 11 cents ahead of the Fourth of July weekend.
According to AAA, the state’s average price for regular gas on Monday sits at $5.04, which is a decrease from $5.15 last week. With prices dropping, some parts of the state are reporting an average below $5.READ MORE: 133,000 People Remain Under Boil Water Advisory In Michigan, Could Take Weeks Before Water Is Safe To Drink
Traverse City and Benton Harbor, for example, have an average price of $4.93, while the Grand Rapids-Muskegon-Holland area reports $4.95 and Saginaw-Bay City-Midland at $4.99.
However, prices in Metro Detroit are still above $5, sitting at $5.14 a gallon on Monday.READ MORE: Salvation Army Collecting Supplies For Back To School Drive
AAA officials say the drop in the global price of oil contributed to the national average to drop now to $4.89. In addition, the price of oil has decreased from $110 per barrel to $107 per barrel.
“Fear is not a good reason to move a market like the one for oil, but it is a powerful motivator,” AAA spokesperson Andrew Gross said in a press release. “The cost of oil accounts for nearly $3 for every $4.89 at the gas pump. Consumers should find more relief when fueling up if oil prices drop further.”MORE NEWS: Detroit Police Searching For Multiple Carjacking Suspects
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