Nik Rajkovic / news@whmi.com

Gas prices in Michigan are up 16 cents from a week ago. Michigan drivers are now paying an average of $3.67 per gallon for regular unleaded. This price is 6 cents more than this time last month and 11 cents more than this time last year.

Motorists are paying an average of $55 for a full 15-gallon tank of gasoline; a discount of about $3 from 2023's highest price last August.

According to new data from the Energy Information Administration (EIA), gas demand fell 9.38 million b/d to 8.96. This demand level is about 240,000 b/d below the same week of last year. Meanwhile, total domestic gasoline stocks rose from 231.2 to 233.9 million barrels.

At the close of Wednesday’s formal trading session, WTI rose seven cents to $80.90 a barrel, up from $78.50 two weeks earlier. The EIA reports that crude oil inventories increased by 3.6 million barrels from the previous week. At 460.7 million barrels, U.S. crude oil inventories are just 2% below the five-year average for this time of year.

Roadways are expected to be busy with a record high 2.3 million Michigan residents forecast to hit the roads over the Independence Holiday week. Drivers across the state will be paying more for gasoline than they did last year on the 4th of July, when the state average was $3.52.

"Rising crude oil prices have led to higher gas prices across Michigan ahead of Independence Day," said Adrienne Woodland, spokesperson, AAA-The Auto Club Group. "Pump prices will likely continue to rise this week as a record number of motorists fill up for their holiday road trips."

Compared to last week, Metro Detroit’s average daily gas price increased. Metro Detroit’s current average is $3.59 per gallon, about 5 cents more than last week’s average and the exact same price as this time last year.

Click below to view AAA's state and metro gas averages.

· Most expensive gas price averages: Jackson ($3.75), Grand Rapids ($3.74), Lansing ($3.74)

· Least expensive gas price averages: Marquette ($3.53), Metro Detroit ($3.59), Benton Harbor ($3.69)