June 13, 2016

Indiana Gas Prices Rank 8th Highest In U.S.

Hoosiers are paying an average of $2.61 per gallon for regular unleaded gasoline. - stock photo

Hoosiers are paying an average of $2.61 per gallon for regular unleaded gasoline.

stock photo

INDIANAPOLIS -- Indiana's statewide gas price average currently ranks 8th highest in the country according to AAA.

 As of early Monday morning, Indiana residents were paying an average of $2.61 per gallon for regular unleaded while the national average stands at $2.38.
Despite recent nationwide gas price increases, Hoosiers are still paying 33 cents less than they were one year ago today and the national average is 42 cents below its mark from 12 months ago.
The nation's top 10 most expensive state averages are... 

  1. California - $2.86
  2. Michigan - $2.74
  3. Hawaii - $2.73
  4. Ohio - $2.68
  5. Alaska - $2.67
  6. Illinois - $2.66
  7. Washington - $2.65
  8. Indiana - $2.61
  9. District of Columbia - $2.56
  10. Nevada - $2.53

AAA said the national average price of gas reached a new 2016 high last weekend and today's number marks the most expensive nationwide average since Sept., 2015.

Overall, pump prices have increased for 28 of the past 33 days.

Crude Oil Prices

The cost of crude oil has steadily increased during the last few weeks, which has contributed to rising gas prices. Industry experts are attributing crude oil price jumps to unexpected production disruptions in places like Canada and Nigeria. Since early April, the cost of crude oil has increased by more than $13 per barrel to the highest levels seen since 2015.

Great Lakes Region

Pump prices in the Great Lakes states reportedly continue to climb due to tightening supplies and strong demand for gas. Headlining the supply challenges in the region is the recent shutdown of a segment of the West Shore pipeline in Wisconsin for what has been described as repair and inspection procedures. Operational challenges are also being reported at Marathon's Detroit, Michigan refinery and ExxonMobil's Joilet, Illinois plant.

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