Economy
10:51 am
Mon August 4, 2014

MI residents see slightly lower gas prices

DEARBORN, MI (AP)--   AAA Michigan says gasoline prices in the state rose about 2 cents in the last week, the first time they've increased in five weeks. 

The auto club says that the average price of a gallon of self-serve regular unleaded gasoline was $3.51 on Sunday. That's about 17 cents less than one year ago.

Dearborn-based AAA Michigan surveys fuel costs at 2,800 Michigan gas stations daily. It says the cheapest price was $3.42 a gallon in the Traverse City area and the most expensive was $3.57 in the Marquette area.

Michigan had the largest decrease in gas prices of any state over the past 30 days.

AAA Michigan attributes falling U.S. gasoline prices to abundant refinery production and stable international oil markets despite the Russian-Ukrainian and Israeli-Palestinian conflicts.