WNIJ's Gas Price Monday

WNIJ's Gas Price Monday

The national average has increased 3.4 cents per gallon during the last month and stands 37.9 cents per gallon higher than this day one year ago.

This is the second week in a row MI has seen a double-digit price drop, after an 11-cent decrease in the week preceding Thanksgiving.

In the past three weeks, gas prices in the Grand Rapids area have fallen 40 cents in just the past three weeks.

On Monday afternoon the average price of a gallon of regular gas was $2.29 while last week's average was $2.47.

So far in 2017, gas prices have strayed from their typical trends, AAA said. This year, those factors have been outweighed, AAA said, by the impacts of two major hurricanes, steady consumer demand and continued growth in gasoline exports.

Winter Session will start Dec 15, MPs to work on January 1
Questions were also raised if the session could spill over to January from December without the President's customary address.

Exports: According to the Energy Information Administration (EIA), in the first half of 2017, United States exports of total motor gasoline averaged a record high of 756,000 b/d, a three percent increase from the first half of 2016.

Meanwhile, oil production in the US reached 9.7 million b/d last week, according to EIA's latest report, a high not seen since April 1971. That compares to the national rate, which sits at $2.49 per gallon.

According to Baker Hughes Inc., the total oil rig count is now 747, which is 273 more rigs than last years count at this time. The national average has gone up 37.6 cents since previous year and is also up 3.5 cents since last month.

Gas prices in states within the West Coast region are among the most expensive in the country.

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