STATEWIDE–Gas prices have gone down every day for nearly a month across the country.
“This is the longest decline in average gas prices since the pandemic started in 2020. Average gas prices are down nearly 40 cents, with Americans shelling out $140 million less on gasoline every day than they did a month ago. We may see the trend last a fifth week, as long as oil prices remain cooperative and don’t surge beyond $105 per barrel, and as long as refinery production of gasoline remains strong,” said Patrick DeHaan, head of petroleum analysis for GasBuddy.
Trilby Lundberg, oil and gas analyst for the Lundberg Survey, agrees with DeHaan.
“Regular grade now averages $4.86 nationwide. We don’t know what crude oil prices will do, but if they stabilize, at least for a little while, I think we’re going to see another 10-20 cent drop in the price of gasoline,” said Lundberg.
DeHaan did, however, issue a word of caution.
“We’re not completely out of the woods yet – we could also see a sharp reversal in the decline. There remains a risk of a spike in prices that could send us to new record levels in August, should any disruptions occur. It could be a wild ride, but for now, the plummet at the pump shall continue,” said DeHaan.
GasBuddy says the average price of gas in Indiana is $4.72. That is down another two cents from where it was Monday. The average in Indianapolis is $4.73. It is $4.62 in Fort Wayne and $4.57 in Evansville.
