INDIANA – Hoosier motorists are experiencing continued relief at the pump, as average gasoline prices in Indiana have fallen 6.7 cents per gallon over the past week, now averaging $3.09 per gallon today. This downward trend, observed across 3,271 stations surveyed by GasBuddy, stands in contrast to a rising national average and growing concerns over global oil supply.
Indiana’s current average is 15.5 cents per gallon lower than a month ago and a significant 41.6 cents per gallon cheaper than this time last year. Yesterday, the price spectrum across the state was considerable, with the cheapest station offering gas at $2.64 per gallon and the most expensive at $3.64 per gallon, a difference of exactly one dollar.
Nationally, however, the picture is different. The average price of gasoline has increased by 9.7 cents per gallon over the last week, reaching $ 3.18 per gallon today. This national average remains unchanged from a month ago. Still, it is 23.3 cents per gallon lower than a year ago, according to GasBuddy data compiled from over 11 million weekly price reports nationwide.
The national average price of diesel has also seen a substantial jump, increasing 16.1 cents in the last week to stand at $3.649 per gallon.
Patrick De Haan, head of petroleum analysis at GasBuddy, attributes the recent surge in national gasoline prices to escalating tensions in the Middle East. “With Israel and Iran trading attacks over the past week, oil prices have continued to climb—and gasoline prices are following suit, rising at a pace we haven’t seen since last summer,” De Haan stated. He added, “Additionally, average diesel prices recorded their largest weekly jump since August 2023. Now, with the U.S. launching attacks on Iran, oil prices are likely to continue trending higher.”
De Haan cautioned against “apocalyptic spikes” circulated on social media but advised motorists to “anticipate a continued steady climb in prices, with the national average likely to increase another 7 to 15 cents this week, while diesel could rise by 10 to 20 cents.” He noted that these forecasts are fluid and dependent on global developments.
Looking at historical data for June 23, Indiana’s current price of $3.09 per gallon is notably lower than recent years, especially compared to the peak of $5.06 per gallon in 2022.
Historical Gasoline Prices on June 23rd:
- June 23, 2024: $3.51/g (U.S. Average: $3.41/g)
- June 23, 2023: $3.47/g (U.S. Average: $3.57/g)
- June 23, 2022: $5.06/g (U.S. Average: $4.94/g)
- June 23, 2021: $3.11/g (U.S. Average: $3.08/g)
- June 23, 2020: $2.09/g (U.S. Average: $2.15/g)
- June 23, 2019: $2.60/g (U.S. Average: $2.65/g)
- June 23, 2018: $2.79/g (U.S. Average: $2.84/g)
- June 23, 2017: $2.20/g (U.S. Average: $2.27/g)
- June 23, 2016: $2.32/g (U.S. Average: $2.31/g)
- June 23, 2015: $2.75/g (U.S. Average: $2.79/g)
Neighboring areas are experiencing mixed trends: Champaign, Illinois, saw a slight increase to $3.19 per gallon, up 2.7 cents. Indianapolis, Indiana, mirrored the state’s downward trend, falling 12.3 cents to $3.02 per gallon. Cincinnati, Ohio, however, experienced a significant jump of 9.4 cents, reaching $3.17 per gallon.
GasBuddy, recognized for its comprehensive and up-to-date station-level data, continues to monitor these dynamic market conditions.
