Gas Prices

The U of M Surveys of Consumers' May 2026 index of consumer sentiment dipped to a record low in its third consecutive month of decline.

High gas prices have some in the tourism industry worried that summer vacationers will choose to stay home this year. But it’s complicated up north, where high travel costs nationwide could actually drive more visitors to northern Michigan—visitors who would normally look to travel farther away.

Analysts blame the disruption caused by the war with Iran and refinery issues for the huge price spike this week to $5 for a gallon of unleaded at a growing number of Michigan gas stations.

Michigan drivers are paying the highest prices at the pump since the summer of 2023, according to an analysis by AAA of Michigan.

According to AAA, gas prices in Michigan are 13 cents less expensive than they were this time last year.

Prices for electricity, natural gas and vehicle fuel are all on the rise, and so is demand in Michigan.That’s according to the Michigan Public Service Commission’s annual summer energy outlook report, which was released on Friday, June 17.

Governor Gretchen Whitmer has signaled she’ll veto a bill to suspend the state’s fuel tax, but, that may not be the final word.

Michigan’s legislature returns to work this week, poised to pass a measure suspending the state’s gasoline tax.

U.S. sanctions on Russia are economic weapons. Added to the arsenal a ban on Russian oil imports. That’s about 3% of U.S. crude oil imports. While the aim is to damage the Russian economy, the fallout is being felt by American motorists. What are the short and long-term impacts?

Michigan gas prices set a new 2022 high as gas prices continue to surge amid the Russian invasion of Ukraine.