Indiana motorists paying more at the pump in August

Indiana motorists are experiencing some sticker shock when they go to fill up their vehicles.

According to AAA, the average price for a gallon of regular unleaded was $3.744 in Indiana on Thursday. That price has remained steady for a week but is 44.7 cents higher than Hoosiers paid a month ago.

While Indiana’s price is lower than the national average of $3.828, it’s rising faster. The national average is up 28.5 cents from this time in July.

AAA spokesperson Andrew Gross said the national average has plateaued for more than a week, and its uncertain which way prices will go.

“The summer heat that kept people home and suppressed refinery production has eased for now, so we have to look at the cost of oil to determine if the recent price climb is ending,” he said. “More expensive oil will likely lead to higher prices, so stay tuned.”

Further increases in gas costs could provide another blow for consumers, especially as the 12-month consumer price index for July showed prices of all goods have risen 3.2% from a year ago, with food costs up 4.9% over that timeframe.

While roughly $1.50 lower than the record high prices from June 2022, Hoosiers still see prices similar to what they paid a year ago, when the average rate was $3.899.

The price does vary significantly depending on where you live or drive. Indiana’s lowest average price can be found in Switzerland County. The southeastern Indiana county reported an average price of $3.459 on Thursday.

The opposite end of the state is where gas prices are much higher. Motorists in Porter County in northwestern Indiana are paying $4.015, the only one of the state’s 92 counties where gas costs more than $4 per gallon.

Three of Indiana’s neighbors reported lower average prices. Kentucky’s $3.502 price for regular unleaded was the eighth-lowest nationally, while Ohio’s $3.596 is 11th.

Michigan motorists are paying $3.732, while Illinois stations sell gas for $4.056.

Nationally, California’s average price of $5.09 is the highest, while Mississippi’s $3.314 is the lowest cost.

Source: The Center Square