MUSKEGON, Mich. (WOOD) — Gas prices below $1 per gallon are showing up at some gas stations in West Michigan.
“Stations are passing along their lower prices all at different rates. Muskegon, 98 cents; Grand Haven, $1.21; Grand Rapids, lowest price about $1.37; and it’s still about $1.47 in Holland,” Patrick DeHaan, head of petroleum analysis at GasBuddy.com, told News 8 Tuesday. “These low prices are popping up, but ultra-low prices are kind of the hidden gem that motorists are looking for.”
DeHaan said he still thinks there’s some downward movement possible, adding that prices at and below 99 cents may not stick around.
The last time we saw gas prices as below a buck per gallon was shortly after the Sept. 11, 2001, terror attacks.
“Some of these prices in Muskegon we haven’t seen in 20 years. For the rest of Grand Rapids at $1.40, $1.50, we have to go back to the great recession,” DeHaan said.
Over the weekend, OPEC and oil-producing nations agreed to cut production by 10 million barrels, or a tenth of global supply.
“Don’t be duped — that actually won’t have much to do with gas prices and that’s because gas stations still have not caught up to the drop in oil prices from before,” DeHaan said. “So rest assured, the weekend production cut from OPEC will not be impacting gas prices immediately.”