WABASH VALLEY, Ind. (WAWV/WTWO) – Many drivers have experienced sticker shock at the gas pump the past couple weeks.
According to experts, as of May 17th Indiana’s gasoline average is 7¢ higher than the national average. The statewide gas average is up 18¢ from a week ago at $4.60 a gallon.
Head of Petroleum Analysis at GasBuddy Patrick De Haan said Northwestern Indiana has seen prices reach almost $5 per gallon.
“We have already seen prices on the doorstep of $5 a gallon in Northwest Indiana because it has a cleaner version gasoline than the rest of the state,” De Haan said.
De Haan said there is a likely chance the rest of the state could see prices reach the $5 mark at some point this summer.
“Hurricane season is a couple of weeks away and is projected to be above average,” De Haan said. ” If any refineries shut down that are unexpected, we certainly could see prices go up.”
De Haan said as the inventory of gasoline is well below 5 year national averages, any potential factors limiting supply will continue to increase costs.
“As the EU continues to mull over and move closer to sanctioning or cutting off Russia’s oil, that certainly won’t make prices go down,” De Haan said.
Wabash Valley Resident Matt Rollins said it costs him well over $60 to fill up his tank.
“I have to use premium for the car that I have and it hurts,” Rollins said.
Rollins said the costs to fill up his and his wife’s tanks each week, has taken a toll on the couples ability to travel.
“We have definitely had to budget differently now,” Rollins said. “We cant go and take a trips on the weekend because it’s become difficult to afford.”
De Haan suggests that drivers shop around, submit rebates, and drive slower to save up to a $1 a gallon at the pump.