GRAND RAPIDS, Mich. (WOOD) — As gas prices continue to fall in states across the country, they seem to have hit a plateau in West Michigan.
“It does seem like stations have started to slow down their descent, but I still expect more drops coming,” said Patrick DeHaan with GasBuddy.com. “What you could be seeing is stations slowing down, dropping their prices in light of the fact that there’s fewer people driving, to make sure they’re taking in enough revenue compared to the drop in traffic.”
>>Inside woodtv.com: Gas prices in West Michigan (MAP)
DeHaan says C-stores, or the stores associated with gas stations, are the portions of the business that do the best in terms of margins, for the most part.
“C-stores, in the last 20 years, have come a long way and (are) actually deemed essential businesses,” DeHaan said. “Aside from going to the grocery store, a lot of time convenience stores have similar items now and have expanded their food and other selections over the past 10 or 20 years.”
On Tuesday, DeHaan tweeted: “BREAKING: OHIO joins 99c/gal club with one station in Cleveland.”
As to whether West Michigan will see gas prices dip below a dollar per gallon remains unseen.
“I think it will be a very close call. We’re already close to seeing that in Detroit,” DeHaan said, “If retailers finally pass along the full decrease in wholesale prices, we should get there in West Michigan. Whether or not that happens is, of course, contingent on competition, which seems to have throttled down across West Michigan in recent days.”