GRAND RAPIDS, Mich. (WOOD) — For the fourth straight week, average gasoline prices have moved lower — but GasBuddy.com says they’ll creep up again before the Fourth of July weekend.
Average gas prices decreased in all 50 states in the last week. In Michigan, they fell to an average of $2.86 per gallon Monday, according to GasBuddy. Grand Rapids had the seventh largest weekly decline in the nation, down 21 cents per gallon.
But OPEC’s Friday decision to increase oil production by 600,000 barrels caused the price of crude to increase 5 percent, which is going to make the price you pay at the pump to go up, GasBuddy senior petroleum analyst Patrick DeHaan said in a Skype interview with 24 Hour News 8.
“I would fill up your tank perhaps this evening,” he advised Monday.
“Gas prices today in Indiana went back up to $2.99, and usually Michigan follows Indiana or goes up a little bit more,” he continued. “So we could be talking about perhaps hitting that $3 mark, maybe going back up to $3.09 (Tuesday).”
He said with some gas stations in West Michigan selling gas for as cheap as $2.60, that could be a big jump.
But he added that prices will start to trickle back down just before the Fourth of July.
“On July 4, we could be talking about maybe $2.95, maybe $2.99, just depending on how high prices go tomorrow or Wednesday,” he said.