KALAMAZOO (WKZO-AM) — Pump prices at many stations on Kalamazoo’s east side have punched through the two dollar mark, and industry analysts say prices citywide are well below the state and national average.
AAA says the average price in Michigan is about $2.24 a gallon. The national average stands at $2.44 a gallon.
“It comes from refiners and retailers slashing prices, sacrificing some of their own profit margins, and because supply is so plentiful,” pollster Trilby Lundberg said.
Lundberg said, with demand on the decline and refiners halting production of cleaner-burning summer blend gasoline, prices should continue to fall.
“There’s a cost cut for refiners switching to winter blend — it costs them less to make,” Lundberg said. “So, that may also make a small contribution to lower prices.”
Kalamazoo didn’t reach the $2 gas mark last year until the start of the holidays — GasBuddy.com says, as of Monday, multiple stations are selling fuel for about $1.99. Prices are over a dollar lower than they were at this time last year.
– John McNeill
