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Central Indiana Gas Prices Tumble

Last updated on Wednesday, June 6, 2012

(INDIANAPOLIS) - Gas prices in Indiana, like those across the country, are declining amid disappointing job growth figures and other symptoms of weakening economic conditions in the U.S. and around the world.

The average price for a gallon of regular unleaded gas in Indiana is $3.55, down 15 cents from a week ago, AAA said.

Prices are 50 cents lower than the same time a year ago.

Real-time prices in central Indiana vary widely, from $3.34 a gallon south and east of Indianapolis to around $3.69 a gallon north of Indianapolis, according to Gas Buddy.

Nationally, the lowest average price is $3.19 a gallon in South Carolina, with the highest at $4.49 a gallon in Alaska.

Oil hovered below $84 a barrel Tuesday, wavering near an eight-month low as doubts remain whether European leaders can contain the continent's debt and economic crisis.

By early afternoon in Europe, benchmark oil for July delivery was down 24 cents to $83.74 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 75 cents to settle at $83.98 in New York on Monday.

Investors will also be monitoring fresh information on U.S. stockpiles of crude and refined products.

Data for the week ending June 1 is expected to show a draw of 1 million barrels in crude oil stocks and a build of 500,000 barrels in gasoline stocks, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.

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