INDIANA — Gasoline prices in Indiana have continued their steady decline, falling 12.5 cents per gallon in the last week to an average of $2.76/g today, according to a GasBuddy survey of 3,271 stations in the state. This substantial drop places Indiana’s average price 27.9 cents per gallon lower than it was a year ago.
The state’s average is now significantly cheaper than the national average, which has fallen 8.5 cents per gallon in the last week to $2.95/g.
Indiana’s gas prices are now 13.9 cents per gallon lower than they were a month ago. The price gap between the cheapest and most expensive stations in the state remains wide, with prices yesterday ranging from a low of $2.29/g to a high of $3.29/g, a difference of exactly $1.00.
Neighboring cities are also seeing significant price relief:
- Indianapolis: Averaging $2.70/g, down 13.8 cents from last week.
- Cincinnati (OH): Averaging $2.69/g, down 16.5 cents from last week.
- Champaign (IL): Averaging $2.92/g, down 8.0 cents from last week.
The national average price of diesel has also decreased by 5.5 cents over the past week, now standing at $3.722 per gallon.
Patrick De Haan, head of petroleum analysis at GasBuddy, noted that the downward trend is providing timely relief for consumers.
“Nearly every state saw average gas prices fall heading into Thanksgiving, with the national average dipping below $3 per gallon for several consecutive days—falling to $2.95/gal over the weekend, the lowest level since May 2021,” De Haan said.
He attributed the sustained drop to positive market conditions: “With refinery maintenance largely complete and OPEC increasing oil production for December, oil prices have struggled. Combine those factors and you have a solid recipe for continued downward pressure on gas prices in the weeks ahead.”
De Haan added that with some stations already selling gas below $2 per gallon, that number is expected to “grow as we move further into the holiday season. It couldn’t come at a better time for Americans—with relief arriving just as the holidays kick off”.
