Michigan gas prices climb to $4.08 a gallon ahead of July 4 week despite softer crude
Tensions between the U.S. and Iran have eased, but shipping remains cautious in the Strait of Hormuz, keeping crude trading in the $60s to low $70s a barrel. Michigan’s average gasoline price rose to $4.08 a gallon, up 82 cents from a year earlier. AAA and GasBuddy said holiday travel demand is lifting pump prices, while oil-cost pass-through and a geopolitical risk premium are supporting near-term pricing. The article also notes Exxon was named by President Donald Trump in a requested probe, but cites no evidence of a material impact on its operations or financials.