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The results of a ongoing survey conducted by AAA Michigan indicate that gas prices declined to their lowest levels in the past two years in October 2001 and have only started to rise again in March 2002. Higher gasoline prices, especially $2.00 per gallon and higher, tend to have a negative impact on tourist travel in Michigan.
As we head into the summer season, it appears that gasoline prices are beginning to rise; however, they are still significantly lower than they were at this same time last year. This bodes well for businesses that rely heavily on the summer pleasure travel market to generate revenue.
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