STATE WIDE--Gas prices in Indiana were still inching down Monday morning, with the state average at $4.16 per gallon, according to Gasbuddy.com. The gas tracker website reported the average price has gone down 7.3 cents in the past week. But, that’s no indication it will keep going down.
“For the first time in 12 weeks, the national average price of gasoline has declined. While the decline is still subject to changes in global supply and demand, Covid and Russia’s war on Ukraine, we are poised to see additional downdrafts at the pump this week in most areas,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
“For now, gasoline demand has shown absolutely no signs of buckling under the pressure of higher prices, even as California nears an average of $6 per gallon, with spring break travel well underway. If the situation does worsen, with more oil being kept away from global markets, it’s not impossible that gas prices would still have to climb a considerable amount for Americans to start curbing their insatiable demand for gasoline.”
The cheapest gas in the state Monday morning was in Veedersburg, where it was $3.84.
Ft. Wayne had one of the biggest declines in the state. Gas there went down a dime over the past week, to an average of $4.12.
The average in Indy was $4.16, down 6.5 cents in the past week.
Gas is over 80 cents higher than this time last month.