Soaring gas prices have retuned to Michigan, according to FOX 2 Detroit. Gas prices are up 19 cents from last week, and more than a dollar from this time last year.
Gas is now $4.36 a gallon, which adds up to about $65 for a full tank of gas, according to FOX 2 Detroit. Of course, gas prices have also seen extreme fluctuations since last spring. For example, gas prices are the most expensive in Lansing and Saginaw, and cheapest in Metro Detroit.
While global unrest has been unraveling the oil market, a refinery fire in Toledo in late September has spiked prices locally, according to FOX 2 Detroit. The BP Husky Toledo plant refines 160,000 barrels of oil a day, but an ongoing investigation into the fire, which left two people dead, may keep the refinery from reopening until December. This could cause an issue with supplies in the Midwest for months.
In addition, the oil cartel OPEC+ announced their plans to cut crude production by 2 million barrels by this fall, which has further put pressure on U.S. energy supplies, according to FOX 2 Detroit. The United States has weighed increasing production elsewhere, such as Venezuela, to replace what was lost from other sources, such as the Arabic region and Russia.