Michigan gasoline price decline expected to continue

The average price of regular, unleaded gasoline in the Muskegon and some other parts of Michigan has declined by nearly a quarter since last week, figures released by Dearborn-based auto club AAA showed.

According to AAA's latest Daily Fuel Gauge Report, average gasoline price across the state declined 13 cents week-on-week to $3.48 per gallon on Monday. Prices in some areas are now lower than where they were a year ago, down by nearly 3 cents.

In the Muskegon, Holland and Grand Rapids area, the fuel declined by 20 cents, from $3.64 a week ago to $3.44 per gallon on Monday this week.

While motorists in the city of Muskegon were buying gasoline for between $3.41 per gallon and $3.51 per gallon; Fremont fuel stations were charging motorists $3.28 per gallon.

The report also predicted that the ongoing decline in gasoline prices will likely continue in the coming weeks as a change in season just a week away. The EPA's summer gasoline requirements have also ended, which will allow energy giants to produce fuel at a cheaper rate.

Avery Ash, an analyst with AAA, pointed out earlier in September that the period of September 15-19 would mark the start of the transition to cheaper, winter-blend gasoline.

However, some energy experts have warned that geopolitical instability, devastating hurricanes or other similar calamities could disrupt production, causing price hikes.