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STATE WIDE–The economy is recovering more quickly than expected and Indiana’s gas prices are doing the same. Gasbuddy reports the state average is $2.07 per gallon, going up for the sixth straight week.

That average is ten cents more than this time last week.

The national average price of gasoline has risen 4.3 cents per gallon in the last week, averaging $2.02/g today, reported Gasbuddy. The national average is up 19.8 cents per gallon from a month ago.

“It’s no surprise that gasoline prices have increased for the sixth straight week as gasoline demand has hit its highest level since early March as Americans are returning to the roads,” said Patrick De Haan, head of petroleum analysis for GasBuddy.

“With OPEC extending its large oil production cuts until at least July, oil prices continue to rally. In Sunday evening trade, a barrel of WTI crude oil briefly touched $40 per barrel, the highest level in months thanks to rebounding demand for oil and gasoline as well as the previous production cuts.”

DeHaan said he doesn’t believe gas prices will return to what they were before the pandemic immediately, because demand is still only three quarters of what it was this time last year.

“I believe the anxiety pushing oil prices up is coming from the fact that the economy may be recovering quicker than most anticipated. For now, motorists will likely continue to see gas prices rising for the weeks ahead,” he said.

In Ft. Wayne the average was $2.09 Monday morning, up almost 12 cents since last week. In the Cincinnati area, the price was $1.98, up about three cents. In Indianapolis, the average was $2.07, up about 12 cents since last week.