Filling tank costing Hoosiers $11 more than last month
The average price of gas has been on the rise every day for the past month, and here in Indiana, we're paying among the highest gas prices in the United States.
Hoosiers are paying $11 more per tank than they were a month ago, when the average price per gallon was $3.29 for regular gas. Today, the average price is up to $3.74 nationally. In Indiana, though, it's ten cents higher at $3.84 per gallon.
There are a few reasons for the hike. Gas prices usually increase this time of year as companies switch to a summer blend, which is more expensive. However, there are other factors at play. The massive snow storm that hit the east coast last month had a direct impact on fuel prices here in Indiana.
"Last Fall, we were among the lowest in the country," according to AAA Hoosier Motor Club's Greg Seiter, who cited "refinery problems in the north and northeast" for the current increase in pump prices.
Demand has slowly increased as well, and that always drives the price up. Barring any more snow storms, gas prices are expected to level off in the next two to three weeks, and even drop back to what they were a few weeks ago.
"As we head into spring," Seiter said, "certainly we don't expect gas prices are going to continue to climb at the rate they have been. There is no reason. However I wouldn't be surprised to see it jump a little more as we transition to formulated gas for the summer months."
In the meantime, to stretch your fuel dollar, experts advise drivers to slow down to increase mileage, and keep tires properly inflated.
Aggressive shopping can yield the lowest prices. Use our Gas Buddy database.
Plan to fill up before mid-week, when prices generally jump before easing back through the weekend.