Metro Detroit gas prices fall sharply, average $3.45 per gallon
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By FOX 2 News Staff
SOUTHFIELD, Mich. (WJBK) - GasBuddy says gasoline prices have fallen 22.4 cents during the past week to an average of about $3.45 per gallon.
The gas-tracking website says Monday the average is nearly 49 cents per gallon less than a month ago and 9 cents higher than a year ago.
"Only one other time in the last few years have we seen the national average drop so significantly in the course of just a week, and that other time was in May 2011," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan.
"Looking back at our data, we only see that prices dropped considerably more in autumn 2008 when the economy slipped into a recession. Given the circumstances with this latest weekly decrease- that it has nothing to do with recession- is significant," DeHaan said.
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