Gas prices are up

After several weeks of gas prices under two-dollars per gallon in Michigan, they’re up above that level. An increase in wholesale gasoline prices is resulting in the price at the pump going as high as $2.19 a gallon in southwest Michigan and $2.39 in Detroit. GasBuddy’s Patrick DeHaan is not expecting prices to fall under the two-dollar mark anytime soon in the state. He notes crude oil inventories in the U.S. rose in the past week to a record 406-point-73-million barrels. DeHaan says the price spike is on the backs of refineries, as they’re not turning that oil into gasoline at the same rate as inventories have risen. The Energy Information Administration reports gasoline stocks are down this week. Crude oil prices fell Wednesday by four percent to 44-dollars-45-cents a barrel, which was the lowest close since March 2009, while wholesale Gasoline prices paid by Michigan gas stations are up and causing a jump at the pump.  (MRN)

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