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No big spike in gasoline prices expected this week

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Steve Carmody/Michigan Radio
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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.