News Summary

Gas prices in Grand Rapids have risen sharply, now averaging $3.24 per gallon, an increase of 11.2 cents from last week. This surge is attributed to a recent refinery shutdown leading to a spike in wholesale prices. Comparatively, national prices have fallen, highlighting a significant local disparity. While Michigan’s average price decreased, Grand Rapids continues to grapple with regional price cycling. Analysts expect prices may decline as Labor Day approaches, impacting the Great Lakes states. The fluctuations in gasoline prices reflect the unpredictable nature of the market.

Grand Rapids, Michigan – Gas prices have surged over the past week in Grand Rapids, reflecting an ongoing trend of regional price cycling following a recent refinery shutdown. The average price of gasoline now stands at $3.24 per gallon, which marks an increase of 11.2 cents from the previous week and is 17.1 cents higher than just a month ago. However, prices remain 6.4 cents lower than they were at the same time last year.

In comparison to national trends, where gasoline prices decreased by 1.8 cents during the same period, Grand Rapids has experienced a significant spike. As of now, the national average for gasoline is $3.07 per gallon. In Grand Rapids, the price of gas varies widely, with the cheapest station charging $2.89 per gallon and the most expensive at $3.39, creating a remarkable 50-cent price disparity.

The situation in Michigan is similar, where gasoline prices also exhibit variability. The lowest-priced gas station in the state was found charging $2.69 per gallon, while the highest soared to $4.84 per gallon, showing a statewide price difference of $2.15. Overall, Michigan’s average gas price has decreased by 11 cents from last week, now at $3.12 for regular unleaded fuel, which is also 8 cents lower than last month and 36 cents lower than a year ago.

Motorists in the state are currently spending around $46 to fill a standard 15-gallon tank. The notable increase in Grand Rapids gas prices is attributed to a 20-cent spike in wholesale prices triggered by the shutdown of one of the Midwest’s largest refineries, which occurred due to severe weather conditions. This disruption has caused wholesale prices to jump by nearly 25 cents at delivery points in Ferrysburg and Muskegon.

Gas price cycling in West Michigan has shown that prices can rise approximately every two weeks during the summer months, a trend that has resumed as a result of the refinery shutdown. Moving forward, analysts anticipate that gas prices in the region will begin to decrease again as Labor Day approaches. This expectation may affect only the Great Lakes states including Wisconsin, Illinois, Indiana, Michigan, and parts of Ohio, while other non-cycling states may witness stable gasoline prices as the holiday approaches.

In broader terms, national diesel prices have also seen a slight decline of 1.7 cents, with an average of $3.448 per gallon reported. Meanwhile, gasoline demand has experienced a slight decrease from 9.04 million barrels per day to 9 million barrels per day, paralleled by a drop in domestic gasoline supply from 227.1 million barrels to 226.3 million barrels. Despite these changes, oil prices have remained stable in the low $60s, helping to limit significant fluctuations in gas prices, even as refinery output and gasoline supply have increased.

The situation is reminiscent of previous peaks in gas prices, which reached $5.18 per gallon in June 2022 and a low of $2.07 per gallon in June 2020, indicating the volatility and unpredictability of gasoline markets.

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STAFF HERE GRANDRAPIDS WRITER
Author: STAFF HERE GRANDRAPIDS WRITER

GRAND RAPIDS STAFF WRITER The GRAND RAPIDS STAFF WRITER represents the experienced team at HEREGrandRapids.com, your go-to source for actionable local news and information in Grand Rapids, Kent County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as ArtPrize, Festival of the Arts, and World of Winter. Our coverage extends to key organizations like the Grand Rapids Chamber of Commerce and Grand Rapids Community Foundation, plus leading businesses in furniture, healthcare, and technology that power the local economy such as Steelcase, Spectrum Health, and Meijer. As part of the broader HERE network, including HEREDetroitMI.com, HERENorthville.com, HERENovi.com, and HEREPlymouth.com, we provide comprehensive, credible insights into Michigan's dynamic landscape.

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