The Immediate Future of Indiana Gas Prices

Source: (PHOTO: CHAIWATPHOTOS/Getty Images

STATEWIDE –Gas prices for this Labor Day weekend at many stations across Indiana are around 40 cents lower than this time last year, according to GasBuddy.

“In Indianapolis for example, the average is around $3.23. That’s about 28 cents lower than where we were a month ago,” said Patrick DeHaan, head of petroleum analysis for GasBuddy.

DeHaan calls the prognosis for gas prices “rather good” with prices declining.

“I would say that by later this fall, we are on schedule for potentially seeing more stations falling below $3 per gallon for a longer period of time. We will progressively go lower and lower the deeper we get into autumn. We’re also a little over two weeks away from switching back to cheaper winter gasoline,” said DeHaan.

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One reason for prices declining is that oil refineries in the Midwest that experienced power outages are now back online. On the flipside, however, DeHaan is cautioning you to watch out for the occasional “price cycle” to happen in Indianapolis soon and other places across the state. That’s where prices could reach as high as $3.49 per gallon, but then after that DeHaan says you can expect a steady decline.

You can hear the full interview with DeHaan below.

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