DEARBORN, Mich. – Need a reason to be thankful?
Gas prices have officially dropped below $2 per gallon in the state of Michigan.
AAA Michigan reports that the current statewide average, including the city of Detroit, is now $1.99 a gallon. Prices are down 24 cents from last week and about 92 cents from this same time last year.
Gas prices were below $2 per gallon at the start of the year, on January 1, 2015.
AAA Michigan says that the reason for the drops is that annual autumn refinery maintenance is almost complete, global supply is outpacing demand, the U.S. dollar is strengthening and U.S. crude oil inventories are building.
According to GasBuddy.com, the Grand Rapids average price is $1.95 per gallon and the lowest in the area is $1.79.