GasBuddy: Prices Could Jump in Indiana By Memorial Day

STATEWIDE–Gas prices are expected to go up again by Memorial Day weekend in Indiana.

“I do believe that with some stations in Indianapolis below the $4 a gallon mark, we may see a correction here to maybe $4.29 or $4.39 a gallon here as we approach Memorial Day. We haven’t seen a hike in a while across Indianapolis,” said Patrick DeHaan, head of petroleum analysis for GasBuddy.

This is due to what’s called price cycling. Gas stations compete to be the lowest-priced option in their area. When prices are already low, they can’t go much lower without selling below cost, so they raise prices back up. Other nearby stations then follow suit, lowering prices again, and the cycle repeats.

While that is not ideal, DeHaan says Indiana is the cheapest state in the Great Lakes by far.

“Everyone else around you is quite a bit more expensive. With these gas tax holidays, we’re talking about a near 60-cent-a-gallon advantage in the Hoosier state,” said DeHaan.

Over 800 union workers at BP’s Whiting refinery in Indiana have been locked out since March 19, 2026. There were stalled contract negotiations, with the union declaring a strike shortly after that. DeHaan says that strike, at least for now, is not impacting gas prices or operations.

“BP is looking at completely normal operations with supervisors that have been brought in. So, BP’s widening refinery is churning out product, refining nearly 440,000 barrels of oil every day,” said DeHaan.

He says the war in Iran is still causing issues at gas stations everywhere.

“The vital waterway that would be carrying 15 to 18 million barrels of oil to the market today is no longer doing that and hasn’t been doing that for nearly 79 days. As a result, the world has lost out on over a billion barrels of oil that have otherwise been shipped through the Strait. And that is why, when we look at the gas pump, our prices are so much higher, because the Strait of Hormuz continues to be impacted,” said DeHaan.

He often gets asked what day is the best day to fill up your gas tank.

“There is no best day. Honestly, it just depends on the headlines,” said DeHaan.