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.
-
Indianapolis educator empowering next generation for Black History Month
An Indianapolis educator is using Black History Month as an opportunity to teach children about African American leaders and innovators who may not be covered in typical classroom curriculum.
Trump Rx launches online portal aimed at lowering prescription drug costs
Trump Rx launched last week, introducing an online portal designed to help consumers find the lowest prices on prescription medications.
Indy-based security company reaches agreement, license will soon be on probation
An Indianapolis security company’s license will soon be on probation, according to an agreement approved by a state licensing board on Thursday.
Mt. Comfort Elementary goes to virtual learning due to flu outbreak
Mt. Comfort Elementary will close for two days and move to virtual learning due to high absenteeism from illness, the school district announced.
