Gas Prices Drop...For Now ANN ARBOR (Michigan Radio) -


Gasoline prices have receded from near record highs earlier this month, but another spike in pump prices may be coming soon.

Gas prices in Michigan have tumbled nearly 30 cents over the past week. Prices rose sharply at the beginning of the month due to a series of hurricanes. However, hurricane damage to Gulf Coast oil refineries appears slight.

AAA spokesman Jim Rink warns gas prices may increase again in the coming weeks, as those refineries begin increasing their production of home heating oil.

"Our retail prices will peak somewhere near the end of this month, and start dropping as we get into October, November," says Rink.

The average prices for a gallon of regular unleaded gasoline in Michigan is three dollars 89 cents or roughly 90 cents higher than a year ago. © Copyright 2009, Michigan Radio