$5 Gas Prices Hit Michigan Amid Refinery Power Outage and Persian Gulf Tensions

Gas prices in the Grand Rapids area of Michigan have hit $5 per gallon, a stark increase from previous years. The average price for regular unleaded fuel has reached $4.83 per gallon, according to AAA, while diesel gas averages at a record-breaking $6.62 per gallon.

The high prices are attributed in part to a power outage at an oil refinery near Chicago, which produces 11 million gallons of gas and diesel fuel daily. The outage affects the Midwest region, where Michigan is located.

Oil prices have also contributed to the surge, passing $100 per barrel as hostilities intensify around the Persian Gulf. The US has destroyed Iranian oil tankers and an Iranian-backed Houthi rebel group attacked oil facilities in Saudi Arabia.