ANN ARBOR — Michigan drivers may not feel it immediately, but the latest flare-up in Middle East fighting has once again put gasoline prices—and much of Michigan's economy—on an upward path. Oil prices jumped this week after renewed fighting between the United States and Iran reignited concerns that shipping through the Strait of Hormuz, one
ANN ARBOR — As millions of Americans prepare to hit the road for the Independence Day holiday, Michigan families are finding that filling the gas tank, paying the electric bill and covering other everyday expenses still costs significantly more than it did a year ago. A new report released Thursday by the Center for American
ANN ARBOR – Michigan drivers are finally getting some relief at the gas pump, with the average price of regular gasoline falling about 45 cents over the past month to roughly $4.18 a gallon. But just as consumers are starting to save money every time they fill up, a new federal inflation report delivered the
ANN ARBOR – Michigan drivers may finally be getting some relief at the gas pump, but don't expect prices to return to pre-war levels anytime soon. Patrick De Haan, head of petroleum analysis at GasBuddy, said in an interview with MITechNews that even if the United States and Iran reach a peace agreement and reopen
Depleted global oil inventories and historically low U.S. emergency reserves could keep pressure on fuel prices for months ANN ARBOR – Michigan drivers may finally be getting some relief at the gas pump, but don't expect prices to return to pre-war levels anytime soon. Patrick De Haan, head of petroleum analysis at GasBuddy, said in
ANN ARBOR – A typical Michigan household could pay up to $3,000 more this year for everyday expenses, making everything from grocery shopping and utility bills to summer vacations significantly more expensive as inflation surged to its highest level in three years. New federal data released Wednesday showed consumer prices rising 4.2 percent over the
ANN ARBOR - Michigan consumers could be facing another round of economic pain as major oil companies and commodity traders warn that global petroleum inventories are falling to unusually low levels, raising concerns that crude oil prices could surge to $150 per barrel or higher if another major supply disruption occurs. For Michigan residents, the
Global Conflict Is Now Reaching Michigan’s Economy ANN ARBOR - Michigan may be thousands of miles from the Strait of Hormuz, but the impact of the growing Middle East oil crisis is already showing up at gas stations, freight terminals, factory floors and household budgets across the state. Global oil prices surged again this week
LANSING - Michigan consumers and businesses are heading into summer facing rising energy costs as global conflict, inflation and growing electricity demand push up prices for gasoline, diesel fuel, electricity and natural gas across the state, according to a new 2026 summer outlook from the Michigan Public Service Commission. The report lands as Michigan is
DETROIT - Michigan drivers already angry over rising gasoline prices may not have seen the worst yet. That blunt warning comes as global energy executives, oil traders, economists, and shipping companies increasingly focus on one narrow waterway half a world away: the Strait of Hormuz. The concern intensified after ExxonMobil CEO Darren Woods warned that
