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Business & Tech

Monday Fuel Report: Gas Prices Top $4 Per Gallon

Prices up 5 cents a gallon from last week and 60 cents more than a month ago.

While reports indicate Michigan’s statewide fuel prices remain stable at $3.97 per gallon, Metro Detroit has seen prices rise by 5 cents since last Monday with an average price of $4.014 per gallon, according to the AAA Fuel Price Finder website.

One month ago, the local average price for one gallon of regular unleaded fuel cost drivers $3.435 a gallon, nearly 60 cents less than today. A year ago that same gallon of gas was $3.54 a gallon, or 47 cents less.

“I feel it,” driver Don Zimmermann of Oak Park said, referring to the rising prices at the pump as he fueled his mid-sized sedan Monday morning at the Sunoco station on Coolidge Highway and 10 Mile Road.

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“I work in Detroit and the commute has become as much an expense as the cost of parking or other things I have to think about when I budget myself for the month,” Zimmermann said.

Gas prices, even more than the unemployment rate or stock market levels, tend to have an outsized impact on consumer confidence because it is a high-frequency purchase, analyst Chris Christopher, an economist at IHS Global Insight, noted during an interview with the Associated Press.

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That effect was evident Friday when a decline was reported in the monthly Thomson Reuters/University of Michigan index of consumer sentiment. The index fell to 74.3, the lowest level this year, from 75.3 the prior month.

Berkley-Huntington Woods gas prices

  • Sunoco: 3372 Coolidge Hwy. at 12 Mile Road, Berkley; $3.98           
  • Marathon: 12 Mile Road at Buckingham, Berkley; $3.98
  • BP: Coolidge Highway at Catalpa, Berkley; $4.04
  • BP: Woodward Avenue at Lincoln Road, Huntington Woods; $4.09

For a graph showing the 30-day average price-per-gallon in Michigan compared with the nation as a whole, visit MichiganGasPrices.com.

More on local gas prices and traffic at berkley.patch.com/traffic.

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