Area Gas Prices Hovering Close to $2.00 – Others Well Below
Financial markets and oil prices have been taking a beating over the last few trading days. Retail gasoline prices in Michigan continue to show the effects. Prices at a handful of gas stations in Kalamazoo have been flirting with the $2.00 a gallon level since late last week. The lowest pricing in Kalamazoo early this morning is holding at $2.01. In Battle Creek, the best pricing is between $2.14 and $2.19 a for a gallon of regular. A station in Ubly in the thumb area is at $1.92. Five stations around Clare, northwest of Saginaw, are at $1.97 a gallon.
With the price per barrel of oil holding under the $50 dollar mark, most analysts say lower retail gas prices may stick with us for a while. A big part of the drop is a lower demand for oil from China which has been hard hit by reduced manufacturing output, due to the coronavirus outbreak.