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State Officials Investigating $4 Gallon Gas Prices

Last updated on Tuesday, April 26, 2011

(UNDATED) - Gas prices have begun crashing through the four-dollar barrier in a big way, and the state wants to know why.

Attorney General Greg Zoeller's office is double-checking price hikes at Speedway Gas Stations statewide, with some stations posting prices as high as $4.17 a gallon.

Chief Economist Tom Bodin emphasizes he doesn't expect to find anything unwarranted.

The state tracks wholesale and pump prices for gasoline on a daily basis, and Bodin says retail prices the last couple of weeks have been running behind what the market would suggest.

But Bodin says gas-station brands come in and out of the state's database, depending on whom they're buying their gas from.

Speedway isn't the only brand to jump to $4.17, but at the moment, Bodin says, Speedway isn't in the database.

That prompted the state's request to review pricing data.

Bodin says the inquiry shouldn't take more than a couple of days.

The website gasbuddy.com reports an average gas price in the Indianapolis area of $3.96 a gallon, six cents below the statewide average.

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