INDIANA – Hoosier motorists are finding significant relief at the pump this week as gasoline prices in Indiana plummeted 14.8 cents per gallon over the last seven days.
According to the latest GasBuddy survey of 3,271 stations across the state, the average price of regular unleaded now stands at $2.63 per gallon.This sharp decline places Indiana prices 34.7 cents lower than they were at this time last year and 6.4 cents lower than just one month ago.
State and National Trends
While Indiana saw a double-digit drop, the national average for gasoline remained relatively stable, falling only 0.8 cents to $2.73 per gallon. Diesel prices also saw a modest reduction, decreasing 2.3 cents to an average of $3.475 per gallon.
In Indiana, the gap between the lowest and highest prices remains wide:
- Cheapest Station: $2.18/g
- Most Expensive Station: $3.19/g
- Price Spread: $1.01 per gallon
Local price movements varied across the Midwest. While Indianapolis followed the statewide downward trend, neighboring markets in Illinois and Ohio saw increases due to “price-cycling”—a market phenomenon where prices jump briefly before entering a steady decline.
| Location | Current Price | Change from Last Week |
| Indianapolis | $2.59/g | -19.0 cents |
| Cincinnati, OH | $2.56/g | +11.9 cents |
| Champaign, IL | $2.76/g | +6.9 cents |
Looking Back: Five-Year Context
Gas prices today are significantly lower than they have been for much of the mid-2020s, mirroring a return to the lower levels seen in early 2021.
- Jan 12, 2026: $2.63 (Current)
- Jan 12, 2025: $2.97
- Jan 12, 2024: $2.90
- Jan 12, 2023: $3.24
- Jan 12, 2022: $3.19
- Jan 12, 2021: $2.29
The Global Perspective: Venezuela and Beyond
Despite major international headlines—specifically the recent U.S. military operation in Venezuela and the capture of Nicolás Maduro on January 3, 2026—market analysts say these events have not yet affected local pumps.
“While the situation in Venezuela has dominated headlines, it’s far too early for any measurable impact on what consumers are paying at the pump,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “It would likely take years to see a meaningful increase in oil output there.”
De Haan noted that while prices are currently benefiting from seasonal lows, a recent “inching higher” of crude oil prices could lead to limited upward movement in the national average in the coming weeks.
