Local Gas Prices Shoot Up Again, Hit $4.29 5-02-2011 - WNEM TV 5

Local Gas Prices Shoot Up Again, Hit $4.29 5-02-2011

Mid-Michigan drivers saw prices jump at the pump Monday to $4.29 for a gallon of regular unleaded.
The previous record was $4.21, set in 2008. And drivers are not happy. Motorists were already smarting from gas price spikes over the past two months.
AAA Michigan said gasoline prices are up 17 cents per gallon over the past week to a statewide average of $4.15.
The auto club said Monday the statewide average is about $1.26 per gallon higher than last year at this time.
A petroleum expert from GasBuddy.com said two refineries in the greater Chicago area may be to blame. One experienced an unexpected issue, and another is undergoing planned maintenance.
Michigan is expected to be in the top five states seeing the most expensive gas prices, including Hawaii.
Meanwhile, crude oil futures prices ended lower on the New York Mercantile Exchange. The near-month contract for the benchmark grade fell 41 cents, closing at $113.52 a barrel.
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