Marquette Gas Prices (2024)

FAQs

How much is gas in the Upper Peninsula? ›

Gas prices surged in 2021 and 2022 amid economic disruptions caused by the pandemic and Russia's invasion of Ukraine — and they've never been the same. Today, gas prices are 30% higher than they were four years ago.

Michigan's average is now higher than the national average of $3.50 a gallon, in part, the auto club said, as a result of problems at one or more regional gasoline refineries, which isn't all that unusual and limits Midwest supply, raising prices.

Mississippi has the lowest average gas price ($2.97 per gallon), ahead of Texas ($3.04) and Louisiana and Oklahoma (both $3.05). Average gas prices decreased the least between Aug. 14, 2023, and Aug. 14, 2024, in Hawaii (2.3%), Ohio (4.5%) and West Virginia (5.5%).

Data as of May 24, 2024. Western and Pacific states face the most costly gas in the nation, as the five states with the highest prices are California, Hawaii ($4.79), Washington ($4.57), Oregon ($4.33) and Nevada ($4.32).

“Once the proposed amendments are implemented in 2024, they are projected to potentially increase the price of gasoline by an average of $0.37 per gallon,” the report read. That means drivers can expect prices at the pump to hit $5 a gallon by spring and continually see an increase.

Petroleum prices are determined by market forces of supply and demand, not individual companies, and the price of crude oil is the primary determinant of the price we pay at the pump.

California continues to lead the nation with the highest gas tax in 2024, which climbs to 69.8 cents per gallon as of July 1. This increase pushes the Golden State's average price for a gallon of regular gasoline to about $4.79. In other tax news, California also has a new gun and ammo tax effective July 1.

GasBuddy Head of Petroleum Analysis Patrick De Haan said this hike is partially due to competition. “In some cases… Stations start selling gasoline at or below their cost and that usually triggers one station to raise the white flag and raise prices where they should have been all along.

What is the leading cause of high gas prices? ›

Gasoline price changes in California are primarily driven by the cost of global crude oil and significant unplanned refinery outages.

(WXYZ) — Michigan drivers will be paying more at the pump in 2023 because the Michigan gas tax has gone up. A law signed under former Michigan Governor Rick Snyder increased Michigan's gas tax from 27.2 cents a gallon to 28.6 cents. The rate increase is either 5% each year or the rate of inflation.

The cost to refine gasoline varies between 40 cents and 70 cents per gallon, depending on various factors. The cost to transport the refined oil to service stations runs about 27 cents per gallon. Taxes vary by state.

Gasoline prices are determined largely by the laws of supply and demand. Gasoline prices cover the cost of acquiring and refining crude oil as well as distributing and marketing the gasoline, in addition to state and federal taxes. Gas prices also respond to geopolitical events that impact the oil market.

The main components of the retail price of gasoline

The cost of crude oil. Refining costs and profits. Distribution and marketing costs and profits. Taxes.

These annual estimated costs are spread out evenly over 12 months and listed as gas cost on your bill. The charge varies with the amount of gas you use. You pay $0.45 per therm for the gas you use.