Michigan Diesel Hits Record High at $6.54
Michigan drivers face record diesel costs and rising gasoline prices amid global supply disruptions.
The average price of diesel in Michigan reached $6.54 per gallon. This marks a new state record for the third consecutive day. The average price of regular gasoline also climbed to $4.75 per gallon. This represents an increase of $0.20 from the previous day.
Gasoline prices in Michigan are up more than $1.50 compared to this time last year. Some local areas now report prices reaching $5.00 per gallon. Experts suggest that diesel prices could reach $7.00 per gallon within the current week.
Geopolitical tensions drive fuel costs
Increased tensions in the Middle East are impacting global energy markets. Houthi rebels in Yemen have intensified attacks on oil tankers. The Strait of Hormuz remains a critical route for global oil supplies.
Disruptions in this region add pressure to already rising fuel prices. The data comes from GN auto markets/energy: gasoline prices. Drivers report immediate financial strain from these increases.
Commercial drivers face steeper bills
Commercial truck drivers face the highest costs. One Michigan driver reported paying approximately $1,000 for a full tank. This is at least $400 more than the cost one year ago.
Drivers note that Detroit currently has the highest diesel prices in the state. Rising logistics costs are expected to increase the price of transported goods. Consumers and haulers alike feel the impact on their budgets.
Gasoline remains below historical peak
Regular gasoline has not yet reached its all-time high. The state record for regular gas stands at $5.31 per gallon. This peak was recorded in May of 2022.
Current prices are high but remain below that 2022 maximum. Diesel, however, has surpassed all previous records. The market remains volatile due to ongoing shipping risks.
