LANSING, Mich. (WLNS) – You’ve probably noticed gas prices are pretty high.
An expert says prices could stay where they are for a while.
Gas Buddy announced the average price per gallon in Michigan this week is $3.51.
Last month, the average in Ingham County was $3.39.
Drivers like Todd Wittig and Caleb Arnett say they spend at least $100 a week on gas.
“The economy is just crazy, everything else just keeps going up, and gas keeps going up, and nobodies making more money,” said Arnett.
“It’s like if we don’t have a lot of something then it’s gonna go up,” said Wittig.
They both may start spending more, because according to many sources, Saudi Arabia and OPEC are scaling back oil production by 10 percent.
Oil barrel prices rose to about $75 Monday.
That’s still fairly cheap, but in 2021 barrel prices were roughly the same, while average gas prices were less than $3.
“Part of the reason why prices are a little bit higher compared to oil is simply that there’s not enough refining capacity,” said Patrick De-Hann.
Dehann with Gas Buddy says even though barrel prices are low, so is the demand for oil right now.
“We’re hopeful that it won’t go over $4 but it could temporarily if there are major refinery issues, or if there’s a major hurricane, or if there’s a drastic change in the U.S. Economy,” said DeHann.
Around this time last year prices, were more than $5 here in Lansing.
Even though we likely won’t see prices at the pump that high, the chances they could go up is unsettling to most drivers.
“It’s not gonna be fun, it’s not gonna be as enjoyable now,” said Arnett.
Prices are even worse out in California. The average price is $4.80 per gallon. Dehann says this week’s barrel prices could have a modest impact on gas prices later this week.