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.
-
Speeding concerns on Meridian Street reach new high following deadly crash
Residents in one north side neighborhood are raising new concerns over speeding issues on North Meridian Street following a deadly crash over the weekend.
University of Indianapolis helps research ways to improve literacy rates
The Department of Education's latest IREAD assessment shows third-grade reading scores made their biggest single-year jump since testing started in 2013.
Police investigating dozens of car break-ins across neighborhoods in Fishers
Fishers police are investigating a rash of vehicle break-ins over the weekend that left dozens of residents with shattered windows and costly repairs.
Boone County commissioners deny RL Turner rezoning request
After months of neighbors pleading with their Boone County commissioners to vote against rezoning farmland, the commissioners made their decision Monday morning.
