Average gasoline prices in Indiana have risen 14.5 cents per gallon in the last week, averaging $3.03/g according to GasBuddy’s survey of 3,271 stations in Indiana. Prices in Indiana are 0.5 cents per gallon higher than a month ago and stand 28.9 cents per gallon higher than a year ago. The national average price of diesel has declined 1.8 cents in the last week and stands at $3.472 per gallon.
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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.
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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.
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Motorists traveling over the Labor Day weekend can expect to see an average of $2.84 per gallon of gasoline. That’s a 20 cent increase from Labor Day 2017.
According to a news release from Gas Buddy, consumers have seen the most expensive summer at the pump since 2014, with an average of $2.73 per gallon thus far. On average, motorists have shelled of more than $1.11 billion per day on gasoline purchases this season, up from a decade low of $912 million per day in the summer of 2016. Continue reading
Gasbuddy.com Senior Petroleum Analysts Patrick DeHaan and Dan McTeague collaborated on a fuel price outlook for 2018.
Though the men did predict an expensive year ahead when they issued the prediction on January 3rd, McTeague said conservative figures were utilized in order to avoid making any assumptions that could have been considered too high. Five weeks into the New Year even the maximum predictions have been surpassed.
McTeague explained that one factor currently contributing to dwindling crude oil inventories is a leak to a frequently used pipeline. Continue reading
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 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
Drivers are dealing with a sharp spike in gas prices.
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
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
The price of gas may have leveled off over the past few days, but there may still be some more increases ahead. Continue reading
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. Continue reading
As the month of June comes to a close, motorists should be aware that we are approaching one of the highest gas price months out of the year. Senior Petroleum Analyst with GasBuddy.com Patrick DeHaan said to expect July prices to be higher than the yearly average due to several factors including higher demand during summer months and various blends of summer gasoline that cost more to produce. Continue reading
