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.
-
Deadly shooting on the far east side of Indianapolis
The Indianapolis Metropolitan Police Department is actively investigating the scene of a deadly shooting that happened on the Indianapolis' far east side on Tuesday.Caitlin Clark to compete in WNBA STARRY 3-Point Contest
Caitlin Clark is set to participate in the WNBA STARRY 3-Point Contest on Friday night of WNBA All-Star weekend. This will be Clark’s first-ever professional three-point contest.Lanes closed on eastbound I-70 in Hancock County due to semi-fire
Eastbound lanes of Interstate 70 in Hancock County are closed due to a semi-fire. There are no reported injuries, according to ISP; however, motorists are asked to seek alternate routes.Eli Lilly Foundation grants $5.5 million to IPS for STEM initiative
The IPS Foundation has received a $5.5 million grant from the Eli Lilly Foundation to support Destination 2032, a new initiative aimed at enhancing STEM education for IPS students.