MASON, Mich — A recent ceasefire in Iran could bring relief to drivers after gas prices reached their highest point of the year on Wednesday.
- Gas prices reached their highest point of the year on Wednesday, with the statewide average hitting $4.08 a gallon for regular unleaded.
- Crude oil prices surged above $100 a barrel due to conflict in Iran, but have dipped below that mark following a recent ceasefire deal.
- AAA says the drop in crude oil prices could bring relief to drivers who have seen the cost to fill their tanks nearly double.
WATCH BELOW: The recent ceasefire in Iran could lower gas prices for drivers
Adrienne Woodland with AAA said the conflict with Iran drove up crude oil prices, leading to the spike at the pump.
"The statewide average is $4.08 a gallon for regular unleaded," Woodland said.
Prior to the conflict, crude oil was priced in the low $60s to mid-$70s per barrel, but prices recently surged.
"Prior to the conflict crude oil was around low sixties to mid-seventies a barrel, now prices in the last week or so have been above a hundred dollars a barrel," Woodland said.
Following the ceasefire deal, crude oil prices have dipped back under $100 a barrel, which Woodland said could have an impact on gas prices.
"It’s really continuing to watch where crude oil prices go because that is a big factor in terms of what we pay at the pump," Woodland said.
The high prices are taking a toll on drivers like Nico Kolb, who commutes to work in Mason.
"I live out in the Webberville area so it’s about a twenty-minute drive here," Kolb said.
Kolb told me the cost to fill her tank has nearly doubled.
"I get the regular and it was about thirty to forty bucks, now it’s around higher end, fifty-five, sixty," Kolb said.
As prices remain high, Kolb is finding ways to make extra income and save money when she can.
"I have decided to stay with my grandparents that are closer, not even my own house," Kolb said.
This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
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