The national average price at the pump is lower at the start of August than it was at the beginning of July. GasBuddy Senior Petroleum Analyst Patrick DeHaan accounts the decreased prices to an overall dip in crude-oil costs. He says the cost of crude-oil has gone down due to the abundance of crude-oil being supplied. Indiana is averaging at $2.47 a gallon, offering lowering prices than our neighboring states of Illinois, Michigan and Wisconsin.
As summer winds down and temperatures start to cool, we will see an even bigger decrease in the cost of gas. During the summer months a particular type of gasoline that costs more to make must be utilized. Due to our proximity to the Chicago-land area, in North-western Indiana the summer gasoline we use must also be up to certain environmental standards, which makes prices at our stations a bit higher than those in other sections of the state.
However once the state switches over from summer gasoline, DeHaan reports that prices are expected to drop, “We can expect that come mid-September when we switch back to cheaper winter gasoline that prices would fall even further. In fact by fall we could start to see as soon as Halloween prices going under $2 a gallon again.”
In the fall and winter months all areas of Indiana use the same type of gasoline which will result in less of an imbalance in pricing. All Hoosiers will soon be able to fill up for a similar price regardless of where they are in the state.