STATEWIDE–If you’ve spent any time at the gas pump over the last week, you’ve probably noticed that gas prices have increased.
The statewide average for gas is $2.45 per gallon, according to GasBuddy. That’s up 14 cents from this time last week.
“Oil prices rebounded last week on word that OPEC members were closely considering cutting global oil production for several months to offset the decline in demand due to the coronavirus, pushing the national average marginally higher versus a week ago,” said Patrick DeHaan, head of petroleum analysis for GasBuddy.
DeHaan says gas prices will likely continue to be on the high side.
“While it’s possible average gasoline prices will remain within arm’s reach of recent lows, unless there’s renewed or new concerns with the spread of the coronavirus, we may have seen the deepest discounted prices behind us, with some chance we’ll hold close to the lows before the seasonal rally begins in earnest. It wouldn’t be a bad time to fill up to hedge the chances of prices rising in the coming days,” says DeHaan.
In Fort Wayne, the average is $2.50, it’s $2.49 in Indianapolis, and $2.35 in Evansville. The cheapest gas in the state is in Florence where it’s $2.10.