Average retail gasoline prices in Michigan dropped by about 14 cents per gallon in the past week, averaging $1.51 Monday, Feb. 8, according to GasBuddy's daily statewide survey of 4,913 gas outlets.

Average retail gasoline prices in Michigan dropped by about 14 cents per gallon in the past week, averaging $1.51 Monday, Feb. 8, according to GasBuddy's daily statewide survey of 4,913 gas outlets.

Michigan’s average is the sixth-cheapest in the U.S., according to gasoline price website GasBuddy.com. The cheapest gas can be found in Oklahoma at $1.38, and the most expensive is in Hawaii at $2.65.

“Refiners will continue selling any winter spec gasoline at bargain basement prices to rid themselves of it before specifications change heading into summer,” said Patrick DeHaan, GasBuddy senior petroleum analyst. “In the days ahead, expect this seasonal ‘clearance sale’ of gasoline to continue, leading to lower prices in most areas. But don't get too relaxed — the shift in specifications will lead to an eventual lift in prices once winter gasoline is gone.”

According to GasBuddy historical data, gasoline prices on Feb. 8 in Michigan have ranged widely over the past five years: $2.24 in 2015, $3.25 in 2014, $3.71 in 2013, $3.50 in 2012 and $3.19 in 2011.

Ottawa County had an average price of $1.48 on Monday, Feb. 1, which is 16 cents less than a week ago, according to GasBuddy.

Michigan prices Monday were 74 cents lower than the same day one year ago, and were down 41 cents from a month ago, according to GasBuddy.

The national average has fallen about 7 cents per gallon in the past week to $1.73, according to GasBuddy. That’s 26 cents lower than last month and 45 cents lower than one year ago.

“While crude oil prices have held above recent lows, gasoline fundamentals continue to be remarkably weak as refiners continue to churn out winter-spec gasoline, incentivized by cheap crude oil,” DeHaan said. “This has put retail gasoline prices under tremendous pressure as gasoline inventories rise to their highest January level since records started in 1990.”

— Follow this reporter on Twitter @SentinelJustine and @BizHolland.