Michigan energy users should have more favorable costs this summer than in 2022, according to the Michigan Public Service Commission’s Summer Energy Outlook for 2023.
- Seasonal gas prices are projected to be 86 cents lower per gallon.
- The average price of diesel fuel was $3.97 per gallon on June 5, which is $1.62 per gallon lower than this time last year.
- Home electricity demand is expected to slightly decline by 1.3%.
- Demand for natural gas is projected to increase 2.2% overall.
- crude oil production is expected to increase from 11.89 barrels per day in 2022 to 12.53 million barrels per day in 2023.
To read the full Michigan Energy Appraisal Summer Outlook 2023, please click here.