Gas prices down in Indiana - for now

File of a person pumping gas. (NBC photo)
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INDIANAPOLIS (WTHR) - Gas prices have fallen 5 cents per gallon in Indianapolis over the last week, a mid-week jump can be expected following the Saudi oil attack over the weekend.

That's according to GasBuddy petroleum analyst Patrick DeHaan.

In Monday's weekly update for GasBuddy, DeHaan said, "While there is some good news that motorists should not expect a sudden and major uptick in gas prices, there may be a minor impact beginning mid-week and continuing until Saudi Arabia's state-owned oil company, Aramco, is able to restore all production."

Going forward, DeHaan says Saudi Arabia's reliability and stability as a source of oil is no longer guaranteed after Saturday's drone strike.

Before markets opened Monday, U.S. oil prices were spiking at levels not seen since the Gulf War era in 1991.

Meanwhile, the average price for regular gas in Indianapolis was $2.48/gallon according to GasBuddy's survey of 653 stations. That represents a 12.6 cents per gallon decrease from last month and 27.5 cents per gallon lower than a year ago.

Across the United States, the cheapest price stands at $1.80/gallon while the most expensive is $4.99/gallon.

DeHaan stressed that he doesn't expect the Saudi attack to lead to major price hikes. "While the situation may change with Saudi Arabia," he said in Monday's update, "motorists are now able to fill up with cheaper winter gasoline and demand continues to seasonally weaken, perhaps softening the blow and impact of the attacks on gas prices."

GasBuddy data is accessible at http://FuelInsights.GasBuddy.com.