Brought to you by WBIW News and Network Indiana
Last updated on Wednesday, October 12, 2011
(UNDATED) - The price of gas in Indiana continues to tumble, with some stations closing in on the $3 mark for the first time in many months.
AAA says average price for a gallon of regular unleaded gas in Indiana was $3.33 a gallon, a slight decline from last week. Prices in Indiana topped out at an all-time high of $4.25 a gallon back in early May. Currently, the national average is $3.42 a gallon.
Indiana gas prices have declined by more than 50 cents in a month, as concerns over the health of the economy and increased supply of gasoline have pushed prices down.
Oil prices have tumbled amid concerns over the possibility of another global recession. Some analysts believe those prices may drop further because of U.S. data that show residents are making less money and therefore may cut back on spending for fuel and other items.
The price of oil is hovering around 85 dollars a barrel.
The price of gas at the pump locally is hovering at or just below the state average.
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