Michigan reach new 2023 record low

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Drivers around the state are seeing pump prices just below $3.00 a gallon, $2.96 on average, for the first time in 2023. While individual stations or even whole counties have had lower prices this year, the state’s average has remained higher. New data collected by the Energy Information Administration suggests news that the Federal Reserve will hold interest rates steady through the end of the year is likely responsible for last week’s 15 cent-per-gallon drop in gas prices. Average pump prices around the Blue Water Area are down from last week as well, by roughly 18 cents, but are still settling just above the state’s average at $3.01 per gallon.