Gas prices in Michigan are increasing rapidly, with some metro Detroit stations close to or exceeding $5 a gallon. This could pose a problem for northern Michigan communities that rely heavily on summer tourism. The cost of gas alone is estimated at more than $16 billion since the U.S. airstrikes began in February, and the cost of the conflict with Iran is estimated to be $25 billion. The Federal Reserve Board of Governors has decided to hold federal funds target interest range at 3.50% to 3.75%, noting low job gains and inflation concerns. The Conference Board has published a survey showing higher gas prices are causing concern for consumers, with many planning fewer vacations and fewer driving less. The average gas price in Michigan has risen from $4.02 a gallon to $4.,25 a gallon, with a five-day increase of 56 cents.