BEDFORD– Motorists in Indiana are seeing a noticeable increase at the pump, with average gasoline prices rising by 11.6 cents per gallon in the last week. According to GasBuddy’s survey of 3,271 stations across the state, the average cost of regular unleaded gasoline in Indiana is $3.17 per gallon today.
While the current average is 15.0 cents higher than a month ago, Hoosier drivers are still paying 44.8 cents less per gallon compared to last year. The national average diesel price also increased, climbing 2.9 cents the previous week to $3.502 per gallon.
GasBuddy price reports indicate a wide range in prices across Indiana. Yesterday, the cheapest gas station in the state sold regular unleaded for $2.69 per gallon, while the most expensive was priced at $3.49 per gallon, representing an 80-cent difference.
Nationally, the average gasoline price has also increased, rising 6.1 cents per gallon in the last week to an average of $3.14 per gallon today. The national average is up slightly by 1.9 cents from a month ago and is 41.0 cents lower than the average price a year ago.
Looking back at historical data, Indiana’s current average of $3.17 per gallon is significantly lower than the $3.62 per gallon average on May 19, 2024, and the $4.61 per gallon average on May 19, 2022.
Neighboring states are also experiencing price fluctuations. In Champaign, Illinois, the average price remained unchanged at $3.29 per gallon. Indianapolis saw a larger increase of 15.2 cents per gallon, with the average now at $3.16 per gallon. Cincinnati’s average rose by 12.9 cents per gallon to $2.99.
Patrick De Haan, head of petroleum analysis at GasBuddy, attributed the recent surge in gasoline prices to rising oil prices following news of potential tariff reductions and new trade deals, which sparked economic optimism. He also noted that tightening gasoline inventories contributed to the upward pressure.
“While Americans are still seeing significant savings compared to a year ago, that gap has narrowed as oil prices have rebounded,” De Haan said. He anticipates one of the most affordable summers for driving since the pandemic. Gas prices are tracking at some of the lowest inflation-adjusted levels in years, even with the recent increases.
GasBuddy, which compiles data from over 150,000 gas stations nationwide, is preparing to release its summer travel survey results and a gas price forecast for the season.
