Dearborn – AAA Michigan says average gas prices statewide are down 12 cents in the past week to about $2.88 per gallon following a harrowing week for financial markets.

The Dearborn-based auto club says early Monday the average price for self-serve regular unleaded gasoline is about 38 cents more than at the same point last year. AAA says prices could drop 5-10 cents in the next 10 days, but could rise as the market braces for U.S. sanctions targeting Iran’s oil and gas sector.

Michigan’s highest average was $3.04 per gallon in the Marquette area. The lowest was in the Lansing area at $2.80 a gallon.

The Detroit-area’s average was about $2.90, down about 8 cents.

AAA Michigan surveys daily fuel prices at 2,800 gas stations across the state.

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