Oil prices have returned to the level that resulted in gasoline prices around $1.60 per gallon a few weeks ago.
Gasoline prices have stayed where they were when oil prices were $10 per barrel [25%] higher.
Who is rigging the market?ADDENDUM:
Michigan gas prices leap 20 cents
Average cost at pump of $1.84 topped by only three states; reasons for weekend surge unclear. Doug Guthrie / The Detroit NewsLess predictable than the weather, the price of gasoline spiked statewide over the weekend to make motorists in Michigan pay more at the pump than any other state except California, Alaska and Hawaii.
Local prices on Sunday ranged from $1.62 a gallon for regular at Costco and Sam's Club in Madison Heights to a high of $2 per gallon at a BP station in Romulus, according to Detroitgasprices.com.
The statewide average of $1.84 per gallon is only topped by the average of $1.86 in California, $2.28 in Hawaii, and $2.36 in Alaska.
Meanwhile, average prices in several western states like Texas, Utah, Montana and Colorado remain below $1.50 a gallon, according to GasBuddy.com.
Even AAA of Michigan spokesman Jim Rink was at a loss to explain Michigan's weekend price surge.
"There really is nothing I know of that should have caused a 20-cent jump overnight," Rink said Sunday.
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