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Gas Prices Jump, Pulling Out of Iran Deal Plays a Part

Indiana's prices are affected, but it may not be in a large way.

STATE WIDE--The average price for a gallon of gas in Indiana is $2.95 per gallon, says That's over 60 cents more than it was this time last year. The average across the country for gas is $3 per gallon.

"The squeeze that retailers in the U.S. are suffering, suggests that they need a few more pennies at the pump in order to stay in business," said Trilby Lundberg, with the Lundberg Survey, which monitors oil and gas prices.

She said Pres. Trump's decision to pull out of the Iran deal could be playing a part in the prices, though not a major one.

"Much of the disquiet over Iran and some other oil=producing nations, such as Venezuela, was already built into the price," said Lundberg. "The situation did get ramped up somewhat, with the departure of the U.S. from the Iran agreement and the resumption of sanctions."

PHOTO: Chris Davis/Emmis

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