It will be a busy travel week as Hoosiers make plans to visit loved ones for the Thanksgiving holiday.
Continue readingGasBuddy Petroleum Analyst Provides Holiday Gasoline Price Outlook
Gas Prices Expected to Continue Upward Trend
Demand for gasoline is on the rise, but oil production is not expected to increase in the near future which will result in higher prices at the pump.
Continue readingGas Prices Expected to be Higher in 2021
Gas prices are expected to continue to increase with the rising price of crude oil, according to GasBuddy.com Head of Petroleum Analysis Patrick DeHaan.
Continue readingCoronavirus Fears Could Push Gas Prices Under Two Dollars a Gallon
Gas prices continue to drop, due to coronavirus fears. GasBuddy Head of Petroleum Analysis Patrick DeHaan says the spread of the virus has halted a lot of travel to affected areas.
Continue readingGas Prices Head Back Up to Start 2020
Gas prices ended 2019 almost 50 cents higher, on average in Indiana, than where they began the year. That’s according to statistics from GasBuddy. The state’s average was at $2.52 a gallon, as of Tuesday afternoon.
Continue readingGas Prices Expected to Continue to Go Down
The decrease in gas prices is expected to continue. Patrick DeHaan, head of petroleum analysis at GasBuddy, says prices have been inching lower, following a spike during the attacks in Saudi Arabia. “The statewide average in Indiana is down about five cents a gallon in the last week,” DeHaan says. “It stands at $2.51. That’s about 50 cents lower than last year.”
Continue readingSpring Gas Price Surge Fails to Impact Summer Travel Plans, Prices Expected to Fall in Coming Months
The largest seasonal surge in gas prices since 2011 hasn’t put a roadblock in summer travel plans. If anything, more Americans are actually hitting the road than in past years.
Continue readingRise in Gas Prices Expected to Continue
Rising oil prices and the switch to summer blend gasoline continue to push prices up at the pump. That’s according to the weekly update released by GasBuddy Monday. Indiana’s average gas price was $2.58 a gallon, five cents higher than the week before and 19 cents higher than a month ago. But some gas stations were charging significantly more than that.
Continue readingGas Prices Expected to Fluctuate Throughout February
Hoosier drivers can expect to see gas prices continue to fluctuate during the month of February. GasBuddy’s Head of Petroleum Analysis Patrick DeHaan said drivers probably noticed higher prices starting on Monday of this week.
Continue readingGas Prices May Soon Head Back Up, Pending OPEC Announcement
The steady drop in gas prices may soon come to an end. GasBuddy.com Senior Petroleum Analyst Patrick DeHaan says the average price of gas in Indiana has dropped from almost three dollars a gallon at the start of October to $2.20 on Monday. “But that may soon coming to a halt,” he says. “Oil prices are up sharply on the prospects that OPEC will cut oil production when it meets later this week at its annual meeting. In addition, there’s some optimism that a trade deal could be looming between the U.S. and China, thus bolstering the economy in the near short-term future.”
Summer Gas Prices May Depend on Oil Production, Iran Sanctions
The Memorial Day travel period may be behind us, but gas prices continue to fluctuate. GasBuddy.com Senior Petroleum Analyst Patrick DeHaan says gas stations started raising their prices again late last week. “Oil prices had given up a little bit of ground on hopes that OPEC will raise production,” he explains, “but then quickly gave those losses back up and moved back up. Overall, I think we’ll see prices a little bit lower than where they were just ahead of Memorial Day weekend.”
Crude Oil Costs Keep Pushing Gas Prices Higher, but a Peak May be Near
Gas prices may be reaching a peak, but the cost of crude oil continues to cause concerns. “We’re very close to putting the worst days behind us,” says GasBuddy.com Senior Petroleum Analyst Patrick DeHaan, “though gas prices probably will still stay in the upper two-dollar range this summer, which is likely to be the highest since 2014.”
Crude Oil Cost, Switch to Summer Blend Pushing Gas Prices Higher
High gas prices can be blamed on the cost of crude oil and the switch to summer blend gasoline, according to GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “We’re seeing this across much of the Midwest,” he says. “We are transitioning to summer gasoline, and one of the larger refineries in the region is currently undertaking maintenance, which limits the ability to produce as much gasoline at a time of year that demand is starting to rebound. So really, those two factors, combined with oil prices that remain relatively high, are leading to higher gas prices.”
Senior Petroleum Analyst Expects High Gas Prices to Continue in 2018
For the last 10 weeks, the United States has consecutively seen a steady decline in crude oil inventories, according to Gasbuddy.com Senior Petroleum Analyst Dan McTeague.
In January of 2017, the cost of a barrel of oil was around $52. McTeague shared that right now, we’re seeing prices closer to $66. That is a $14 difference and he said it may increase as the year goes on with high demand at the national and international levels, increased exports and stalled production continuing to impact costs. Continue reading
Gas Prices Expected to Increase
Gas prices have recently been dropping across Indiana, but don’t expect that trend to continue. GasBuddy.com Senior Petroleum Analyst Patrick DeHaan says many of the issues that led to a spike in gas prices in early November have since been resolved. “Due to the factors we had previously talked about, a pipeline leak that has been fixed, refinery maintenance season, which is now done, gas prices have been in free fall across much of Indiana for the last two weeks.”
Gas Prices Expected to Drop from Current Levels but Remain Higher than Last Year’s Prices
Gas prices are starting to head back down after a large spike last week, but they’re expected to stay above last year’s levels as the Thanksgiving travel season approaches. That’s according to GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. Continue reading
Refinery Maintenance, Pipeline Leak Lead to Spike in Gas Prices
Drivers are dealing with a sharp spike in gas prices.
Fuel Analyst Says Gas Prices Have Fallen From Last Month But Risen From Last Year
You may have noticed that gas prices have recently gone down. Though that is partially due to certain areas finally regaining stability after the recent natural disasters, it also has to do with the annual switch from summer fuel to winter fuel. Senior Petroleum Analyst Dan McTeague said that prices in Indiana have dropped on average around 15 cents from last month, when there was still speculation and concern over the amount of refineries damaged.
Though we may be experiencing lower gas prices than a month ago, compared to this time of year in 2016, we’re paying approximately twenty more cents. McTeague said there a few factors responsible for that difference. Continue reading
Petroleum Analyst Provides Some Perspective on Indiana Gas Prices
Gas prices may be up 24 cents from last year’s average but compared to individuals on the east coast, drivers in Indiana won’t be seeing much of an impact from Hurricane Harvey at the pump. According to GasBuddy.com Senior Petroleum Analyst Daniel McTeague, Indiana’s gas prices are impacted by the Chicago Spot Market, not the New York Market. Continue reading
Gas Prices to Drop This Week
Gas prices will drop a few cents this week thanks to lower crude oil prices last week.
Gasbuddy.com Senior Petroleum Analyst Patrick DeHaan says there was a spike in gas prices just after the Fourth of July holiday.
“The statewide average was about $2.15 on July 4th and now it has jumped to about $2.31,” said DeHaan. “Looking a today versus a week ago prices average $2.31 a gallon today across the state. A week ago prices averaged $2.18 so we’re looking at a pretty big increase at over $.10 a gallon.”
