At some gas stations gas prices could dip below a dollar a gallon before the end of the year, according to GasBuddy.com analyst Patrick DeHaan. He notes prices are now at their lowest level in over a decade. And he adds falling wholesale gasoline prices are setting up the possibility of 99 cents per gallon at some stations. DeHaan also doesn’t believe summertime gas prices will go above $2.75 a gallon. As of Tuesday morning, GasBuddy pegs Michigan’s average gas price at $1.49, the lowest it’s been since the website began keeping track of gas prices more than a decade ago. Kalamazoo and Genesee counties have the lowest average prices at $1.39 per gallon. DeHaan points to a 15 cent drop in wholesale prices Monday, along with very high gasoline inventories. He also notes that Midwestern refineries have been running without any major problems over the past several weeks.
