Price war drops gas to 47 cents in central Michigan

HOUGHTON LAKE, Mich. (WOOD) – The price of gas at stations in Houghton Lake dropped well below $1 per gallon on Sunday.

The Beacon & Bridge Market in Houghton Lake was selling regular unleaded at a mere 47 cents per gallon Sunday evening, while the Marathon and Citgo had gas for 95 cents per gallon at one point, according to a release from GasBuddy.com.

The drop seemed to be the result of a price war, GasBuddy said.

The stations could be the first in the nation to drop their prices below $1 per gallon in years, Patrick DeHaan, GasBuddy’s senior petroleum analyst, said in a Sunday email.

Houghton Lake is in central Michigan, south of Grayling.

Sunday evening, the average price of a gallon of regular unleaded gas in Grand Rapids was about $1.74, according to GasBuddy. While in Indiana the average gas price was $1.67 per gallon. The national average is $1.89. Crude oil was trading at $29.54 per barrel.