According to some reports, the fuel fight in Houghton Lake saw prices hovering around 50 cents at one point Sunday.
Comparatively, gas prices were 22.5 cents less than a year ago, and 5 cents less than last month, the statement said.
Houghton Lake is in central MI, south of Grayling.
I pumped 16 gallons of regular into my gas tank on Sunday at a St. Petersburg Citgo station priced at $1.76.
Due to the current surge in oil supply, paired with an ongoing gas price war waged between several companies, gas prices fall below $1 in parts of MI.
Lexington and Louisville prices are also down about 15 cents over the past week. By some estimates, the country can export 500,000 barrels a day.
Yesterday's closing price of $29.42 for oil was the lowest since 2004. Prices locally are 18 cents less than a month ago. Gas prices remained highest along the U.S. Pacific coast, particularly California and Alaska. That's still well below the state average of $1.72.
Kroger Gas, 2170 W. Michigan St., Speedway, 1501 St. Marys Road, and Speedway, 1515 N. Main Ave. were all selling gas at $1.53 a gallon.
GasBuddy.com's data goes back to 2000 and DeHaan said he couldn't find any other averages that low in the U.S. Day holiday, but they have said that they expect prices to continue to decline until refinery's begin conducting annual maintenance ahead of the summer driving season.
The gas price in MI returned to a more normal $1.47 by Monday morning.
CNBC spoke to three gas stations in the town, which confirmed their prices fell below one dollar a gallon over the last three days.
