Region Gas Prices are Up This Week Due to Several Factors

Nov 1, 2017

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Credit GasBuddy

NORTHWEST INDIANA - Average retail gasoline prices in Northwest Indiana have risen .5 cents per gallon in the past week, averaging $2.49/g yesterday, according to GasBuddy's daily survey of 314 gas outlets in Northwest Indiana.

This compares with the national average that has increased just under a penny (0.6 cents) per gallon in the last week to $2.45/g, according to gasoline price website GasBuddy.com. Patrick DeHaan, Head of petroleum analysis for GasBuddy says we've seen some increases recently.

"In the last week we saw another round of gas price increases," DeHaan says.  "The statewide average is up about nine cents a gallon in the last week. It has come down slightly in the last few days."

DeHaan says there are several factors that are causing the slight jump in prices.

"What is going on to cause these high prices, well, the combination of higher oil prices."  DeHaan says. "Oil prices are within about .50 cents a barrel of their highest level of 2017, $54 dollars per barrel.  The other problem is refinery maintenance especially here around the great lakes is limiting how much gas is being produced."

Including the change in gas prices in Northwest Indiana during the past week, prices yesterday were 47 cents per gallon higher than the same day one year ago and are 12 cents per gallon higher than a month ago. The national average has decreased almost 9 cents per gallon during the last month and stands 25 cents per gallon higher than this day one year ago.