Marquette Gas Prices (2024)

FAQs

What is the gas price in Marquette, Michigan? ›

Michigan's average is now higher than the national average of $3.50 a gallon, in part, the auto club said, as a result of problems at one or more regional gasoline refineries, which isn't all that unusual and limits Midwest supply, raising prices.

Why are gas prices so low right now? It comes back to supply and demand. On the supply side, global oil production continues to remain relatively steady despite various conflicts in fossil fuel rich-regions. NPR's Scott Neuman writes, “China's demand for oil remains relatively low due to its flagging economy.

Mississippi has the lowest average gas price ($2.97 per gallon), ahead of Texas ($3.04) and Louisiana and Oklahoma (both $3.05). Average gas prices decreased the least between Aug. 14, 2023, and Aug. 14, 2024, in Hawaii (2.3%), Ohio (4.5%) and West Virginia (5.5%).

In its latest Natural Gas forecast, the US Energy Information Administration expects the U.S. benchmark Henry Hub natural gas spot price to increase throughout 2024 from its recent lows. The agency forecast the Henry Hub price to average less than $2.00/MMBtu in 2Q24 and about $2.20/MMBtu for all of 2024.

LOS ANGELES (KABC) -- California gas prices are rising due to an annual tax increase that took effect Monday. The state's gas tax is going up by two cents, increasing to 60 cents per gallon. So, drivers filling up a 12-gallon tank will spend about an extra quarter.

Gasoline price changes in California are primarily driven by the cost of global crude oil and significant unplanned refinery outages.

GasBuddy Head of Petroleum Analysis Patrick De Haan said this hike is partially due to competition. “In some cases… Stations start selling gasoline at or below their cost and that usually triggers one station to raise the white flag and raise prices where they should have been all along.

When planning a road trip in Canada, you need to have a fuel budget. Pay attention to fluctuating gas prices. Find a balance between comfort and consumption to save on your fuel budget. Gas generally costs about half as much in Canada as in Europe, and 25-50% more than in the USA.

What prices are going down? ›

So what we found in the government's latest Consumer Price Index data might surprise you. Prices on stoves, refrigerators and other kitchen appliances are down about six percent compared to last year. Washers and dryers are down more than 14 percent.

Why are gas prices rising? Underlying the higher costs of gas are routine factors including refinery maintenance, the switch to summer gasoline and rising demand. Domestic supply is also impacted as refineries take advantage of milder weather conditions to do necessary maintenance.

The cost to refine gasoline varies between 40 cents and 70 cents per gallon, depending on various factors. The cost to transport the refined oil to service stations runs about 27 cents per gallon. Taxes vary by state.

The cost to refine crude oil into gasoline, including occasional refinery production shutdowns, scheduled and unscheduled. Seasonal factors, such as changing from cheaper gas blends used in the winter, leading to a natural price spike in the spring. Spot shortages, sometimes caused by geopolitical tensions.

Crude oil is the biggest piece of the pie making up about 57% of the price of a gallon of gas as of 2022. Then comes refining and profits at 17.7%, followed by distribution and marketing at 12.4%, then federal and state taxes at 12.8%.

Gas prices in Michigan reached a record high in June 2000, topping out at an average price of $2.08 per gallon during the week of June 19.

The current Reservation Charge is $0.05525 per CCF. For GCR purposes, the Reservation Charge is a component of the Base GCR factor. This Reservation Charge is included in the Gas Cost Charge of $0.39116 per CCF.