Labor Day weekend is just around the corner and most families are planning some sort of mini-vacation to celebrate the occasion.
So, how do gasoline prices affect your wallet?
You’ll be pleased to note that prices in West Michigan have dropped about 6.6¢ in Grand Rapids, 2.8¢ in Lansing and 11.5¢ in Kalamazoo over the past week, according to GasBuddy.
According to their data, prices were almost 45 cents higher in the same period last year.
Even diesel has fallen to its lowest level in years, down 3.2 cents in the last week.
Nationally, we are slightly above average. Gas prices in the U.S. are down 6.2 cents this week and down just over 20 cents from last month. Year-over-year, we are lagging behind the national numbers, with the national average down just over 49 cents since August 26, 2023.
Historical gas prices in Grand Rapids, USA, August 26: 2014–2024
August 26, 2023: $3.80/g (U.S. Average: $3.80/g) August 26, 2022: $3.71/g (U.S. Average: $3.84/g) August 26, 2021: $3.03/g (U.S. Average: $3.14/g) August 26, 2020: $2.10/g (U.S. Average: $2.23/g) August 26, 2019: $2.64/g (U.S. Average: $2.58/g) August 26, 2018: $2.93/g (U.S. Average: $2.83/g) August 26, 2017: $2.48/g (U.S. Average: $2.36/g) August 26, 2016: $2.37/g (U.S. Average: $2.21/g) August 26, 2015: $2.72/g (U.S. Average: $2.56/g) August 26, 2014: $3.47/g (U.S. Average: $3.43/g)
GasBuddy collects data from over 11 million reports from 150,000 gas stations across the United States.
"GasBuddy is now tracking eight states where average gas prices are already below the $3 per gallon mark, along with nearly 20% of gas stations in the country selling gasoline at $2.99 or lower," said Patrick De Haan, head of petroleum analysis at GasBuddy. "These numbers will continue to look better every week as we move into fall.
The fuel price data tracking company says it will release its Labor Day travel forecast on Tuesday.
