Gas prices drop in Indiana
Fort Wayne among the lowest around $3.32
By Rick Yencer
FORT WAYNE, INDIANA (NEWS) - It's been a few summers since gasoline prices in the Midwest have declined instead of skyrocketed.
Just a drive Tuesday from Muncie to Fort Wayne found falling prices in Yorktown around $3.48 to the low in south Fort Wayne $3.32.
Gregg Laskowski, senior petroleum analyst for GasBuddy. com, points to lower crude oil and wholesale gasoline prices that is driving down retail prices from the BP convenience store near Muncie to a Marathon pump outside of Warsaw.
Central Indiana gas prices have seen a 16 cent drop in recent weeks from the national average of $3.65 and crude oil also dropped six cents, as supply remained constant.
Laskowski said there were no supply or refining issues in the Midwest and even Chicago gas prices had dropped by similar to Indiana.
GasBuddy reported no geopolitical issues impacting crude oil production outside the United States and there has been no significant weather disrupting supply or refining.
With hurricane season stating in the South, motorists can always see higher prices with refineries in the Gulf states disrupted.
While the South has low gas prices mainly because of local state gasoline taxes, the Midwest has among the highest gasoline taxes in the country that keeps fuel prices high.
Congress recently talked about the federal transportation fund being broke and the need to raise federal gasoline taxes.
Laskowski said federal gasoline have not been raised since 1993 and more pressure is put on states to manage and fund transportation and highway improvements.
In Indiana, more than $200 million was put toward highways this year and another $200 million funneled to local government.
The extension of Interstate 69 from Bloomington to Indianapolis is the big ticket interstate project while repairs to the Indiana Toll Road in northwest Indiana also requires millions of dollars.
But this summer, the ride to northern Indiana lakes might cost $5 a trip less with more money to spend at convenience stores whose owners have found decreasing sales with higher gasoline prices.