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Could gas prices dip below a dollar a gallon?
At some stations, that could happen, and before the end of the year, according to GasBuddy.com analyst Patrick DeHaan.
He notes prices are now at their lowest level in over a decade. And he adds falling wholesale gasoline prices are setting up the possibility of 99-cents per gallon at some stations.
DeHaan also doesn’t believe summertime gas prices will go above $2.75 a gallon.
As of Tuesday morning, GasBuddy pegs Michigan’s average gas price at $1.49, the lowest it’s been since the website began keeping track of gas prices more than a decade ago.
Kalamazoo and Genesee counties have the lowest average prices at $1.39 per gallon.
DeHaan points to a 15-cent drop in wholesale prices Monday, along with very high gasoline inventories.
He also notes that Midwestern refineries have been running without any major problems over the past several weeks.
