Indiana Gas Prices May Hit $4 Per Gallon This Weekend
Indiana residents might want to consider filling up their fuel tanks as the weekend approaches, because a new report indicates that that gas prices will likely surge within the next 48 hours.
According to GasBuddy.com Senior Petroleum Analyst Patrick DeHaan, the majority of gas stations will increase their prices by 10-35 cents per gallon by Friday evening – fuel prices in Indiana are expected to be in upwards of $4 per gallon.
It appears as if the rising cost of fuel is due in part to recent pipeline malfunctions and setbacks suffered by three regional refineries, which, according to DeHaan, shutdown a pipeline that delivers crude from Canada to Chicago – tightening the market.
Although DeHaan says that the situation is temporary, prices will linger around the four-dollar mark until the pipeline complications are remedied.
Rising gas prices are imminent due to gasoline spot prices, what gas stations pay before taxes, experiencing nearly a 21-cent per gallon by Wednesday.
Since July 25, gasoline has risen 61 cents per gallon.