STATEWIDE–Gas prices are expected to keep going down, at least for the next week or two, says GasBuddy.
“I’m seeing a lot of stations (in Indiana) at $2.84 per gallon. Some are at $2.87. Essentially, some of these stations that are racing to the bottom may not stay there for a significant amount of time. But for now, I think the average in Indianapolis will continue to go down,” said Patrick DeHaan, head of petroleum analysis for GasBuddy.
DeHaan says if you have to fill up your gas tank, you should shop around to find the best value.
“I wouldn’t pay anything more than $3 per gallon, given the fact that there are a lot of stations under that $3 per gallon mark as we had anticipated. The average price is only down six cents per gallon, but a lot of stations have dropped their price by 20 to 30 cents. I think the strategy this week should be to find those stations that have dropped prices significantly and fill up there,” said DeHaan.
DeHaan doesn’t expect the next price cycle (period where prices could increase) to come for the next 7-12 days.
“It all just depends on how quickly other stations lower their prices. At a statewide average of $3.19 per gallon, it is really not looking like stations are anywhere near that. I would say for the rest of this week and into next week, you can expect gas prices to keep coming down,” said DeHaan.
There is a lot of uncertainty about the omicron variant of coronavirus, but DeHaan says the variant has not made a big impact on oil demand so far.
LISTEN: Full Interview with DeHaanÂ
