INDIANAPOLIS — Indiana residents will soon be seeing an increase in prices as the gas pump.
The Indiana Department of Revenue published the gas use tax rate for the upcoming month. The tax will be increasing by 1.4 cents to 18.6 cents per gallon starting March 1.
Although the gas tax has decreased in recent months, Hoosiers have seen a significant increase over the last five years. In March 2018 the rate was 13.8 cents and 11.4 cents in March 2019.
At this time last year the gasoline tax rate was 18.4 cents per gallon.
Indiana calculates this tax by taking the average price per gallon of gasoline in the prior month and multiplying it by the state retail tax. The average retail cost of one gallon of gas last month was $2.66.
This means that Indiana residents will end up paying an extra 18 cents per gallon.
This adds up quickly to become an extra $1.80 on 10 gallons of gasoline.
In February, the gas tax was 17.2 cents per gallon, meaning you were spending $1.72 in taxes for every 10 gallons of gas.
Indiana residents pay two additional taxes on top of the gasoline tax. There is an excise tax of 33 cents per gallon and a federal tax of 18 cents per gallon.
With a $2.66 retail price, Hoosiers pay $3.35 per gallon of gas.
The state average for one gallon of gas is currently $3.31.
Visit WRTV’s gas prices page to find the cheapest gas prices near you.
-
One dead in shooting on east side of Indianapolis
A person was found fatally shot near 21st Street on the east side of Indianapolis Thursday evening, according to policeSevere weather damage? Here’s how to file your insurance claim
With all the widespread damage from severe weather many Hoosiers will be filing insurance claims. WRTV talked to a local professional about what you need to know before you start the process.Madison County seeks disaster declaration after storm leaves major damage behind
Emergency management officials are seeking a disaster declaration following severe damage caused by a recent storm.Powerful winds topple trees, trailer in Delaware County
Yorktown is cleaning up after a serious storm again, just seven months after experiencing a landspout tornado. Wednesday's storm took down dozens of trees, one of which fell on a historic cemetery.