GRAND RAPIDS, Mich — Gas prices in the Grand Rapids area are expected to rise this week as global supply concerns escalate following a breakdown in ceasefire talks with Iran and a full blockade of the Strait of Hormuz.
The average price for a gallon of gas in Grand Rapids is up about 17 cents from last week. According to GasBuddy, the average across more than 240 stations in the Grand Rapids area is about $4 a gallon. Diesel is currently averaging $5.62 a gallon.
Drivers saw some relief over the weekend when gas prices dropped slightly after the president announced a ceasefire in the war with Iran. However, a breakdown in talks and renewed escalation shifted prices back up. A move to a full blockade of the Strait of Hormuz pushed the price of oil higher in Sunday night trading, resulting in the likely jump at the pump analysts expect this week.
For comparison, the average for a gallon of gas this week last year in the Grand Rapids area was $3.01. The closest comparison is April 13, 2022, when the average was $3.87 a gallon in Michigan and more than $4 nationwide.
WATCH: Oil prices surge after ceasefire talks with Iran breakdown
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