INDIANAPOLIS — Hoosiers across the state are once again dealing with a price increase at the gas station.
According to data from GasBuddy, the average price for a gallon of regular gas is $4.06; that's about 16 cents higher than last week. WRTV saw several stations in Indianapolis selling gas at $4.29.
Patrick De Haan, GasBuddy head of petroleum analysis, says right now the wholesale price of gas in the Great Lakes is at its highest level since July.
Two nearby refineries in Whiting, Indiana and Oregon, Ohio are still offline after fires earlier this year.
"Supply has gotten tighter and that's why prices have been shooting up," De Haan told WRTV. "I'm hopeful that as we move towards Thanksgiving, there's a increasing likelihood that the BP refinery [in Whiting] will be back online at some point in the second half of November. So that could provide some relief, but prices could still be in the upper threes or low fours going into Thanksgiving, especially if new issues come to light."
De Haan says despite the holidays, demand for gas normally goes down as people drive less during the week.
He expects gas prices to remain above $4 per gallon for the next couple weeks.
Summary of #gasprice turbulence in MI/IN/OH/IL/KY/WI... the spot (I'll call it wholesale for ease) price jumped 83 cents from 10/18 to 11/2. That caused retailers to raise their price (obviously) as their cost jumped ~83c/gal. TODAY, spot price plummeted nearly 50c/gal.— Patrick De Haan ⛽️📊 (@GasBuddyGuy) November 3, 2022