STATEWIDE–Gas prices will likely stay around the $2 per gallon mark in Indiana until 2021, says GasBuddy.
Gas stations across the state have already moved prices up to $2.09 per gallon for regular unleaded, but they aren’t expected to go a whole lot higher than that.
“We’re going to bounce around because there have been price cycles. That is when stations raise prices, then lower them for one to two weeks, then prices go right back up,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “I think we’ll keep dancing around that $2 mark. Some days we’ll be over it and some days we’ll be under it.”
If you are below a quarter of a tank, DeHaan said it would be a good idea for you to fill up if you can find a station selling it for $1.90 or less. He also does not expect this price cycle to last too long.
“It will be a one or two-day thing. As stations go up to $2.09, I think most other stations will be quick to join. But then by later this week, prices will go down a couple of cents each day,” said DeHaan.
There is optimism regarding a coronavirus vaccine, but DeHaan prices will stay in the $2 range until a vaccines are distributed and prove to be safe and effective.
Oil prices are staying around $45 per barrel, which is what DeHaan calls “near a pandemic high.”
LISTEN: Full Interview with Patrick DeHaan
