Fuel Analyst Says Gas Prices Have Fallen From Last Month But Risen From Last Year

Posted on Author Jacque Ryan

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

Posted on Author Jacque Ryan

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

Posted on Author Anita Goodan

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.”

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Gas Prices Lowest Since 2005

Posted on Author Anita Goodan

Gas prices have been at a decent level lately as opposed to recent months.

Gasbuddy.com Senior Petroleum Analyst Dan McTeague said the local retailers are working the numbers very closely.

“Prices are reflecting the wholesale and tax of about $2.20 a gallon and that looks to be in some places the going price,” said McTeague. “A lot of gas stations are really operating with their proverbial noses very close to the grindstone. I’ve seen some places that are moving up to $2.45.”

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Gas Prices Expected to Stay Within Current Range over the Summer

Posted on Author Lenny Dessauer

The price for a gallon of unleaded gasoline remains low. Prices have gone up slightly in the past few weeks. Gasbuddy.com Senior Petroleum Analyst Patrick DeHaan says most stations raised prices to $2.45 a gallon.

“This is in line with what we would have expected. We’ve watched wholesale gasoline prices go up and in an account of some refinery kinks that occurred about a week-and-a-half ago that are still impacting the supply of gasoline and those prices. Prices, though, remain about $1.25 lower than last year. Over the coming week, I would expect some sort of minor decrease to emerge in gas prices,” said DeHaan.

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Gasoline Prices on Upward Trend

Posted on Author Lenny Dessauer

Motorists saw gasoline prices on a downward trend for several months, but for the past few days the price has increased slightly.

According to AAA Hoosier Motor Club, prices for unleaded gasoline declined a record 123 consecutive days to $2.03 a gallon. The price increased last week for the first time since Sept. 25 of last year.

The national average price of gas is $2.06 which is approximately $1.22 less per gallon than one year ago. AAA estimates that $365 million less per day is spent on gasoline nationwide. Indiana’s current statewide average price is $2.17 a gallon.

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Analyst Explains Gas Price Spike

Posted on Author Lenny Dessauer

The lower price of unleaded gasoline has relieved a pinch from consumer pocketbooks, but some retailers have dropped the price too low for a profit margin. GasBuddy.com Senior Petroleum Analyst Patrick DeHaan said that has caused prices to spike.

“What you’re seeing with the big spike is essentially gas stations losing 20 or 25 cents a gallon and raising their price back up to where they’re making about 15 or 20 cents a gallon. Obviously, you have a 40 cent a gallon difference between a station losing 20 cents and making 20 cents and that’s where these big spikes come from. The good news is that prices are already coming back down,” said DeHaan.

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Gas Prices Continue to Drop

Posted on Author Lenny Dessauer

The price of a gallon of unleaded gasoline has been dropping.

Don Good from the Good Oil Company in Winamac says the prices will continue to drop.

“For the foreseeable near future, the trend is to continue down,” said Good. “We’re probably going to bottom out not too far from here. There are a lot of places that are starting to get under three dollars. That’s kind of under cost for some of them, but they’re trying to beat that three dollar mark. For the long term, we should be under three dollars and unless there’s a world event that changes that we’ll probably stay in that range for a while.”

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