Business & Tech
Gas Prices Shoot up Toward $4 a Gallon in Troy
Prices increase an average of 34 cents per gallon in one week, approaching record highs.
Metro Detroit gasoline prices shot up 34 cents per gallon in just one week, running an average of $3.78 a gallon Tuesday compared to $3.44 a week ago, according to AAA Michigan.
Motorists are spending $3.70-$3.92 a gallon for regular gasoline in Troy. Other parts of Michigan are paying $4 or more.
Increasing world demand for oil is pushing Michigan’s gasoline prices closer to record high territory, said Dustin Coupal is a co-founder of GasBuddy.com.
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“Over time, it’s a definite certainty ... whether it happens this week … or next month," Coupal said. "Unfortunately, higher gas prices are coming.”
The state set a record last May, when the average price hit $4.26 a gallon.
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