By John Raffel
Correspondent
Osceola County’s average gas price as of Wednesday was $4.236 per gallon, according to AAA.
This is somewhat in the middle compared to other neighboring counties which are:
Clare County, $4.094; Lake County, $4.318; Midland County, $4.198; Isabella County, $4.318; Mecosta County, $4.113; Newaygo County $4.123; Roscommon County $4.255; Missaukee County $4.293; Wexford County, $4.199.
The national average is $3.854 while the state average is $4.147. For Michigan, it was $4.303 a week ago, $3.802 a month ago and $3.304 a year ago.
According to a statement from AAA: “Fears of a global economic recession led to a major drop in the price of crude, down $7, which helped to minimize pump price increases last week. Meanwhile, domestic gasoline demand decreased as fewer drivers fueled up in the first half of October. According to the Energy Information Administration (EIA), gas demand decreased nationally from 9.47 million b/d to 8.28 million b/d, and total domestic gasoline stocks increased by 2 million bbl to 209.5 million bbl.
“Lower gasoline demand, amid increasing supply and fluctuating oil prices, has contributed to the national average moving downward. If demand continues to drop coupled with a slide in oil prices, drivers could see increases in prices at the pump start to slow and even come down through the week.”