When do you last remember gas being under a dollar.. or just 78 cents a gallon?

Gas Buddy is saying there’s a price war going on at gas stations in Houghton Lake, Michigan – and as a result, we’re the first state in the union to see prices under $1 in years.

This is a photo from the Beacon and Bridge Market there, $.78 per gallon.

Gas Buddy is also reporting the Marathon there is at $.95 per gallon. They’re probably selling it below cost – as the “rack price” (that’s a price reported from a published survey of supplier prices without taxes, freight or superfund costs for gasoline and diesel fuel) in Detroit for regular unleaded is $1.07.

Nationally, gas prices are down 7.6 cents a gallon since last week. Just a couple of years ago, prices were north of $4.00 – showing how much gas prices can fluctuate.

Today, filling up the tank, it was $1.57 here in the City of Detroit.

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