Michigan Becomes First State to Welcome Back Sub-$1 Gas

[Teh One Who Knocks]

FOX 2 Detroit


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Gasbuddy.com says several stations in Houghton Lake, Michigan have lowered their prices under $1 per gallon, in what appears to be a price war.

According to GasBuddy it appears these stations are currently the first stations in the country to see prices under $1 per gallon in years. As the situation unfolds, it's possible these stations re-raise prices back over $1/gallon.

78 cents per gallon was recorded at Beacon & Bridge Market while 95 cents per gallon was recorded at the Marathon in Houghton Lake. Prices were verified by GasBuddy after a review of photographs uploaded to GasBuddy's app.

[PorkChopSandwiches]

:shock: Thats cheaper then when I started driving

[DemonGeminiX]

Me too. :lol:

[perrhaps]

Not me.

[deebakes]

:haha:

[Teh One Who Knocks]

By EMILY SHAPIRO - ABC News


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The price of gas hit a stunning low -- just 47 cents per gallon -- in Michigan on Sunday.

Michigan was the first state to have gas under $1 in likely over a decade, Patrick DeHaan, senior petroleum analyst at GasBuddy.com, told ABC News today.

A gas station in Houghton Lake, Michigan, hit the 47 cents mark after a price war between three stations in the town, DeHaan said.

GasBuddy.com's data goes back to 2000 and DeHaan said he couldn't find any other averages that low in the U.S.

"This is something we don't see often at all or ever," DeHann said. "That's unheard of."

DeHann said he believed the next lowest price in the country was about $1.29, at a station in Virginia.

Gas prices in the U.S. are averaging at $1.889 today, down over 17 cents from last year's average of $2.061, according to GasBuddy.com. Low gas prices can likely be attributed to low oil prices, as oil supply stays high and oil demand stays low, DeHann said.

The highest national average was $4.12 in 2008, DeHann said. In terms of individual gas stations, prices have gone as high as $6 a gallon, he said.

[DemonGeminiX]

:shock:

Wow.

[Griffin]

I hope my wife doesn't hear about this.
At those prices we could drive up to visit her relatives, fill up, drive back home and make money.