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Gas in Indiana now averaging below $4 per gallon

Indianapolis stations were selling gas at an average price of $3.94 per gallon to start the week.

INDIANAPOLIS — Average gasoline prices in Indianapolis have fallen below the $4 per gallon mark, according to GasBuddy's weekly survey and AAA

GasBuddy showed gas in the Indianapolis area averaging $3.94/gallon on Monday, which is 22 cents less than a week ago and 84.2 cents lower than a month ago. AAA shows Marion County stations averaging $3.95/gallon. 

The average price in Hamilton County was the highest in the state, according to AAA, at $4.24. GasBuddy showed the statewide average is down 20 cents for the week to $3.96/gallon.

According to GasBuddy price reports from more than 650 stations, the cheapest gallon in Indianapolis was selling for $3.54 Sunday. The least expensive gallon in Indiana was even lower at $3.47.

The national average price of gasoline has fallen 15.8 cents per gallon in the last week, but is still above the $4 benchmark at $4.01 Monday.  

"The national average is poised to fall back under $4 per gallon as early as today as we see the decline in gas prices enter its eighth straight week," said Patrick De Haan, head of petroleum analysis at GasBuddy. "By the end of the week, 100,000 stations will be at $3.99 or less," he said, citing some parts of Texas, Oklahoma, Kansas and Iowa selling gas for $2.99.

DeHaan said West Coast stations should soon drop their prices below $5, but cautioned that hurricane season in the tropics could create potential disruptions at coastal refineries. 

"Diesel continues to decline as well," DeHaan said, "and will likely soon fall under $5 per gallon."

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