Gas prices trend down for fifth consecutive week, increase in production cited

AAA predicts record travelers this year for 4th of July weekend

Gas prices in MI continue to buck the historical summertime upward trend, falling 6-cents a gallon this week to a statewide average of $2.29.

SC continues to register the lowest average in the nation at $1.90, followed by Alabama at $1.96, according to AAA.

AAA found self-serve, regular selling for as low as $2.09 and as high as $2.49 per gallon. Pittsburg experienced the largest price decrease, falling four cents to $1.99.

AAA Michigan surveys daily fuel prices at 2,800 gas stations across the state.

AAA pegged the average at $2.09 on Monday, down about 7 cents in the last week. Rhode Island's price is one cent higher than the national average of $2.23.

However, McTeague said it may be a little early to make the call on gas prices.

Statewide, the average is even less, at $2.15 a gallon. That year, the price on July 4 was $2.23, which was the first time gas prices ever rose above the $2.00 mark for the holiday.

Some 37.5 million Americans will drive to their destinations, an increase of 2.9 percent over last year, AAA predicted, while 3.44 million people will be flying for Independence Day, increasing air travel by 4.6 percent over last year.

There is "cause for concern" in the fact that there have been several days of consecutive increases in oil prices, the senior petroleum analyst at GasBuddy.com said in an interview with "Closing Bell".

AAA has more than 331,000 members in Kansas.

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