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‘Finally’: Gas prices begin to fall in West Michigan

GRAND RAPIDS, Mich. (WOOD) – After gas prices hit historic highs for the third straight week, gas prices are falling.

“Finally we see some relief” GasBuddy That said petroleum analyst Patrick De Haan on Wednesday. “Average gas prices have basically been down across Grand Rapids for a month. The average price, which had reached $5.19 per gallon, has now fallen to an average of $4.85.”

De Haan said this is not the time to rush out and fill up his tanks. He expects the trend of falling prices to continue for at least a week or two — maybe even the rest of the month.

“If you fill up today, you’ll find a cheaper price tomorrow and the day after,” he said.

Over the course of a year, the savings for drivers can add up.

“(Compared to) a week ago, the average pickup truck fueling is $3 less. It’s $2 less on a minivan. For a passenger car, it could be $1.50,” De Haan said. “Compared to the peak price we saw in early June, Americans are spending a total of $100 million less a day on gasoline than they were three weeks ago.”

De Haan said we could see prices drop another 25 to 50 cents, suggesting low price leaders like a station in Sparta. News 8 found gas there for $4.55 this week.

De Haan said concerns about an economic slowdown are helping prices fall. He also says there have been some modest improvements in fuel delivery was a concern as prices skyrocketed.

“I think for many it’s not enough, but it’s something,” he said. “Something is better than nothing.”

https://www.woodtv.com/news/traffic-conditions/finally-gas-prices-start-to-drop-in-west-michigan/ 'Finally': Gas prices begin to fall in West Michigan

Dais Johnston

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