Gas prices falling, but still, remain higher than a month ago

UNDATED – Indiana gas prices have fallen 0.5 cents per gallon in the past week, averaging $2.96 a gallon today, according to GasBuddy’s daily survey of 3,271 stations in Indiana.

Gas prices in Indiana are 12.4 cents per gallon higher than a month ago and stand $1.10 a gallon higher than a year ago.

Gas prices in Lawrence County range from $2.60 a gallon at Cenex on State Road 37 in Mitchell to $2.90 a gallon today at Phillips 66 on 16th Street in Bedford. Most of the stations are selling a gallon of gas at $2.85 a gallon.

According to GasBuddy price reports, the cheapest station in Indiana is priced at $2.68 a gallon today while the most expensive is $3.39 a gallon, a difference of 71.0 cents per gallon. The lowest price in the state today is $2.68 a gallon while the highest is $3.39 a gallon, a difference of 71.0 cents per gallon.

The national average price of gasoline has risen 6.4 cents per gallon in the last week, averaging $3.03 a gallon today. The national average is up 16.8 cents per gallon from a month ago and stands $1.17 a gallon higher than a year ago.

Historical gasoline prices in Indiana and the national average going back ten years:

  • May 17, 2020: $1.86/g (U.S. Average: $1.86/g)
  • May 17, 2019: $2.85/g (U.S. Average: $2.86/g)
  • May 17, 2018: $2.98/g (U.S. Average: $2.91/g)
  • May 17, 2017: $2.23/g (U.S. Average: $2.33/g)
  • May 17, 2016: $2.22/g (U.S. Average: $2.22/g)
  • May 17, 2015: $2.70/g (U.S. Average: $2.71/g)
  • May 17, 2014: $3.82/g (U.S. Average: $3.65/g)
  • May 17, 2013: $3.74/g (U.S. Average: $3.62/g)
  • May 17, 2012: $3.81/g (U.S. Average: $3.72/g)
  • May 17, 2011: $4.03/g (U.S. Average: $3.94/g)

Neighboring areas and their current gas prices:
Champaign- $3.15 a gallon, down 2.9 cents per gallon from last week’s $3.18 a gallon.
Indianapolis- $2.92 a gallon, down 4.1 cents per gallon from last week’s $2.96 a gallon.
Cincinnati- $2.88 a gallon up 9.8 cents per gallon from last week’s $2.79 a gallon.

Patrick De Haan

“The national average gas price surged last week thanks to big price jumps in Southeastern states due to the previously shut down Colonial Pipeline, but most areas outside that region saw smaller fluctuations,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “With the pipeline now back in service, I expect prices to come down in the hardest hit states, specifically the Carolinas, Georgia, Tennessee, Florida and Virginia. The drops should lead the national average to soon fall back under the $3 per gallon mark, but motorists shouldn’t get too excited- prices may start to head higher in a few weeks should Memorial Day gasoline demand be red hot. In addition, motorists in the affected areas should see outage numbers continue to decline this week, especially early in the week when gasoline demand tends to be lowest. I’m optimistic that there will be enough recovery by Memorial Day for motorists in these states to fill up without having to search for gasoline.”

GasBuddy is the authoritative voice for gas prices and the only source for station-level data spanning nearly two decades. Unlike AAA’s once daily survey covering credit card transactions at 100,000 stations and the Lundberg Survey, updated once every two weeks based on 7,000 gas stations, GasBuddy’s survey updates 288 times every day from the most diverse list of sources covering nearly 150,000 stations nationwide, the most comprehensive and up-to-date in the country. GasBuddy data is accessible at http://FuelInsights.GasBuddy.com.

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