COLDWATER, MI (WTVB) – For all intents and purposes, $3 a gallon gasoline is back.
There was another price spike over the weekend and experts are saying consumers may have to deal with the highest gas prices in four years this summer.
Many Coldwater area stations raised prices this weekend, some by as much as 38 cents, to $2.99 a gallon.
AAA Michigan says 13 percent of stations across the country are now selling gas for $3 a gallon or more. The average national price for gas is $2.81 compared to $2.39 a year ago.
The average price for gas in Michigan Monday morning was $2.93 a gallon.
The robust economy and low unemployment are two of the reasons that experts are listing as to why gas prices have gone up. OPEC cutbacks have led to reduced oil supplies in the U.S. as well. It’s estimated U.S. oil supplies are down by nearly 1.1 million barrels compared to last year at this time.
The price of crude oil as of last Friday was over $68 a barrel.
