Michigan gas prices jump 90 cents in a week, closing in on record high – Detroit Free Press
Updated May 1, 2026, 2:10 p.m. ET
- Michigan gas prices jumped another 28 cents in one day.
- Rising gas prices are now the talk of the watercooler.
- The worst, some fear, is still to come as tensions rise.
Michigan gas prices jumped another 28 cents in one day, hitting $4.86 a gallon, and if they continue going up at this rate, they could set a new all-time high, surpassing $5.22 a gallon average set in 2022.
The average for Friday, May 1, which was released by AAA and are more accurately a reflection of where prices were on Thursday, may even be higher, judging by how fast they have been rising recently.
In one week, gasoline prices jumped 90 cents — almost $1 — up from $3.96 a gallon. That’s up $1.87 — close to $2 — a gallon from just two months ago, when, on March 1, gas prices were just $2.99.
Rising gas prices are now the talk of the watercooler, the interwebs and the morning and evening TV news shows, with “Good Morning America” running a segment about “the pain at the pump intensifying.”
Adding to that is the uncertainty about what will happen in the Middle East, as efforts to resolve the war with Iran reach an impasse, with Iran declaring it would respond with “long and painful strikes” if Washington renews its attacks.
Tensions, which had briefly eased, are rising again.
Why gas prices are so high in Michigan
Since access to Middle East oil was cut off in late February, International Energy Agency head Fatih Birol has repeatedly warned that the world is now facing the biggest energy crisis in history.
Friday, the average gasoline price in Michigan was a new high for the year.
“The oil markets and gas markets are going through big difficulties,” he said Thursday while at a conference in Paris, Reuters reported. He added: “When I looked last time, the oil price was over $120 which is putting a lot of pressure on many countries.”
This followed comments Birol made when, less than two weeks ago, he told France Inter radio that “this is indeed the biggest crisis in history,” worse, Reuters also reported, than crises in 1973, 1979 and 2022 combined.
Despite efforts by President Donald Trump and other administration officials to downplay the gas price increase, experts are warning that the elevated prices caused by the conflict in the Middle East could get worse and last much longer.
In Michigan and other Midwest states, gas prices are higher than the national average, which was $4.39 a gallon, because there have been problems at regional refineries, which is curtailing supply.
And, in a way, it adds to the earlier price spike connected to the earlier global energy crisis that was unleashed in 2022, with Russia’s full-scale invasion of Ukraine, which is still ongoing.
When Michigan gas prices will go down
Gas prices have not yet reached an all time high. It’s also unclear when they will come down again, given that diplomacy between the United States and Iran has so far failed to reach an agreement.
Some experts are already saying that the crisis is worse — and could last much longer — than the gasoline spikes were in 2022. It also appears that prices, as they edge up, could surpass the high then, too.
Here’s why:
Leading up to the 2022 energy crisis, the global pandemic caused oil demand — and supply — to plummet in 2020. Gas and oil prices generally track together. As the pandemic ended, demand rebounded, causing prices to rise, too.
Then, Russian leader Vladimir Putin attacked Ukraine.
As a result, the United States and its European allies imposed oil and other sanctions on Russia, which is a major oil exporter, limiting oil supply. Crude oil prices spiked to $120 a barrel, which caused gas prices to rise even more.
Drivers were hit with two problems at once: increased demand for gas as the pandemic ended and people started traveling again, and limits on the oil supply aimed at punishing Russia.
The all-time high average for Michigan, according to AAA, was set June 11, 2022.
This time, though, in addition to the Russian oil sanctions, surging oil prices have not been solved by releasing oil reserves — or a market that needs to adjust to sudden demand.
Instead, a global shortage of oil because the Strait of Hormuz has been closed, is starting to ripple through the global and national economy with the worst, some fear, still to come as the conflict continues to drag on.
Contact Frank Witsil: 313-222-5022 or fwitsil@freepress.com
