STATEWIDE–Gas prices will be going down slightly in Indiana this week, but GasBuddy is urging you to not have lofty expectations on that.
“I wouldn’t get too excited. I wouldn’t expect prices to go back down to where they were a month ago when prices were around $3.22 in Indianapolis, for example,” said Patrick DeHaan, head of petroleum analysis for GasBuddy.
DeHaan says this typically happens after prices go back up rapidly. You’ll start to see them trickle back down.
“They have started to slowly decline after hitting $3.79 late last week. There are a few stations selling gas across Indiana for $3.49, so shop around,” said DeHaan.
In places like Indiana, Michigan, and Ohio, DeHaan says prices will drop between five to ten cents on average over the next week or so. Coming up soon, stations will also be switching over to the cheaper winter gasoline.
“That changeover can happen as early as September 16th. That’s when the EPA no longer regulates summer gasoline programs. With it, northwest Indiana is where you’re going to be seeing the most savings because northwest Indiana has to use the special blend of gas that the Chicago metro area uses. Right now the difference between the Chicago blend and what’s used downstate in Indianapolis is about 32 cents per gallon, so northwest Indiana should see a nice price drop when they roll back to winter gasoline,” said DeHaan.
The decrease will be a little bit less throughout the rest of Indiana.
DeHaan says anytime there is a hurricane, you need to be ready for gas prices to go up because hurricanes tend to knock out oil refineries and cause outages, which leads to higher prices.
You can listen to the full interview with DeHaan below.
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