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flag Michigan’s gas prices fell to $2.86 avg, 10 cents lower, as supply rose and demand dropped.

flag Michigan’s average gas price dropped 10 cents to $2.86 per gallon, 24 cents below last year’s level, according to AAA. flag Prices vary by region, with Ann Arbor at $2.96 and Traverse City at $2.54. flag Demand fell to 7.83 million barrels per day, while domestic supply rose to 257 million barrels. flag Crude oil inventories increased to 426.0 million barrels, still 2% below the five-year average. flag WTI crude closed at $60.62 per barrel.

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