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Indiana gas prices rising again

A three-month summer price decline is reversing due to refinery issues, and wholesale prices are increasing.

INDIANAPOLIS — Average gasoline prices in Indianapolis rose 19.2 cents per gallon in the last week and were averaging $3.85 per gallon Monday morning, according to GasBuddy's data from more than 650 stations. 

Prices in Indianapolis are 3.7 cents per gallon higher than a month ago, signaling an upward trend that one analyst said is likely to continue. 

"One of the longest gas price declines on record has finally come to an end after 14 weeks," said Patrick De Haan, head of petroleum analysis at GasBuddy, who expects prices to rise above $4 per gallon in coming weeks.

"A slew of unexpected refinery disruptions, including fires and routine maintenance, have seemingly all happened in a short span of time, causing wholesale gas prices to spike in areas of the West Coast, Great Lakes and Plains states," DeHaan said Monday. "Some of those areas could see prices spike another 25-75 cents per gallon or more until issues are worked out."

"I don't know that I've ever seen a wider gamut of price behaviors coast to coast in my career," he said.

Drivers could still find gas selling as low at $3.44 per gallon in Indianapolis Monday. Nationwide, average price of gasoline has risen 3.2 cents per gallon in the last week, averaging $3.67 Monday, according to GasBuddy.com. 

According to AAA, Indiana's average gas price was $3.82 Monday, while the national average was 10 cents per gallon lower at $3.72.

Benton, Carroll and Warren counties were showing an average price above $4 per gallon Monday.

"Fluctuating oil prices and tight supply due to planned and unplanned maintenance work at refineries on the West Coast and Midwest contribute to rising pump prices," according to AAA.

The national average price of diesel has declined 5.1 cents in the last week and stands at $4.88 per gallon.

Hurricane Ian could also impact supplies, especially across the south. GasBuddy has activated its Fuel Availability Tracker for drivers in Florida, Georgia, Alabama and South Carolina. 

"Hopefully, disruptions will be very limited due to Ian," DeHaan said, "but there remain many factors driving prices both up and down across the country."

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