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Expert: Memorial Day travelers should expect to pay $4.50 or more for gas

Drivers are paying almost 53 cents more per gallon than they were a month ago and should expect costs to increase as travelers hit the road around Memorial Day.

INDIANAPOLIS — The average price for a gallon of gas in Indianapolis did not move much in the past week, holding at $4.37 Monday, according to GasBuddy.com.

Drivers are still paying almost 53 cents more per gallon than they were a month ago and should expect costs to increase as travelers hit the road around the Memorial Day holiday.

"New records continued to be set on a near-daily basis as the national average edges even closer to $4.50 per gallon," said GasBuddy petroleum analyst Patrick De Haan. "Prices later this week could be closer to $5 per gallon than $4, as demand continues to edge higher and inventories of both gasoline and diesel continue to decline, temperatures warm and motorists get back outside, and we near the Memorial Day weekend - the start of the summer driving season."

De Haan said gas price increases may start to slow as pump prices catch up to oil, but "there isn't much reason to be optimistic that we'll see a plunge any time soon."

GasBuddy reported the cheapest gas in Indianapolis was selling for $4.19 a gallon on Sunday, while the most expensive was $4.89. The spread statewide is wider, with the cheapest gas at $4.07, and the most expensive price was $5.12.

GasBuddy's national average price of gasoline was unchanged in the last week, averaging $4.46 on Monday. The national average is up 39.1 cents per gallon from a month ago.

According to AAA, Monday's national average was slightly higher than GasBuddy at $4.48 per gallon. The average per gallon price in Indiana was $4.41. Gas in Indiana counties near Chicago was topping $4.70 per gallon Monday. In Evansville, Hoosiers were only paying an average of $4.27 per gallon. Indianapolis and Fort Wayne prices averaged between $4.36 and $4.38 per gallon, respsectively.




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