According to an oil analyst, gas prices are expected to rise by 50 cents at Michigan stations on Monday.
Prices have been steadily dropping in the last two weeks to $ 2.20 a gallon, which means they are due to the peak, said Patrick DeHaan, head of oil analysis at GasBuddy.
"Usually, when we end up in this type of situation, that's what triggers a price hike," DeHaan said. "We're starting to see them go up to $ 2.79 or $ 2.85 (per gallon)."
Michigan's gas prices have dropped about 12 cents a gallon over the past week, according to AAA. Prices are down 28 cents from last month, says AAA.
This expected rise is part of a pricing cycle that has become "very predictable" in Michigan and neighboring states like Ohio and Indiana, DeHaan said.
Gasoline prices generally drop for seven to ten days, reducing each other's stations until prices reach profitability, sometimes up to 20 cents per gallon.
"That's when … some stations will increase their price to such an extent that, if there was no undercutting, they would sell normally," DeHaan said.
The higher price is expected to last about a day before dropping 1 to 3 cents a day, DeHaan said.
According to DeHaan, this trend is "more moderate" in the Detroit metropolitan area, where some resorts are likely to resist the trend and keep prices down, while others are reaching their peak on Monday.
The average price of gasoline in Detroit Monday was just over $ 2.67 a gallon, according to GasBuddy.
More: Gasoline prices in Michigan have dropped 12 cents per gallon since last week, according to AAA
More: The price of gasoline dropped 15 cents to 2.75 dollars per gallon, according to AAA Michigan
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