No big spike in gasoline prices expected this week

Jul 2, 2012

AAA predicts 1.4 million Michiganders will travel during the Fourth of July holiday.

Most of them will be driving. GasBuddy.com says drivers should not expect to see a big spike in gasoline prices.

“We’re seeing supply looking very healthy,” says Greg Laskoski, an analyst with Gasbuddy.com, “but consumer demand is really rather flat. So as a result, we’re seeing these prices come down. We’re going to continue to see that trend well past the Fourth of July week.”

Laskoski says there is a chance Michigan gas prices could fall below three dollars a gallon later this year.

But he says gasoline prices could rebound depending on the state of affairs in the Middle East and if oil-producing countries dramatically cut back on production.