Gas Prices Continue to Drop

Posted on Author WKVI
 
 

The price of a gallon of unleaded gasoline has been dropping.

Don Good from the Good Oil Company in Winamac says the prices will continue to drop.

“For the foreseeable near future, the trend is to continue down,” said Good. “We’re probably going to bottom out not too far from here. There are a lot of places that are starting to get under three dollars. That’s kind of under cost for some of them, but they’re trying to beat that three dollar mark. For the long term, we should be under three dollars and unless there’s a world event that changes that we’ll probably stay in that range for a while.”

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State Sees Increase in Gas Prices

Posted on Author WKVI
 
 

Fuel prices across the state of Indiana took a large scale hike at the end of last week. The state average price ended up around $3.59 a gallon prompted by a gain in wholesale prices that caused a double digit per gallon increase. GasBuddy.com Senior Petroleum Analyst Patrick DeHaan says spikes in prices can be predicted ahead of time.

“What we see across Indiana is that prices generally spike like they did last week, every one to two weeks, so it’s quite predictable that these spikes happen,” said DeHaan.

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Gas Prices Should Start to Lower Soon

Posted on Author WKVI
 
 

Gas prices spiked this week but according to Don Good from the Good Oil Company, we should be seeing lower prices for a gallon of gasoline soon.

Good said the recent spike has to do with the continuation of the fuel turnaround.

“Every time this time of the year rolls around they deplete the tanks to meet the new standards and that always creates – I’ll call it a ‘pricey opportunity’ for the speculators to buy product and then sell it at an increased cost so we always have some upward pressure this time when they go into turnaround, commented Good.”

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Gas Prices Still Fluctuating in Indiana

Posted on Author WKVI

 
 
While the national average price for a gallon of gas has been steadily increasing over the last month, having risen from $3.42 to $3.51, the average price per gallon in Indiana has been fluctuating steadily, having last peaked at $3.69 on March 23 after its previous dip to $3.57 on March 21. The average price per gallon in the state is now around $3.65, and according to GasBuddy.com Senior Petroleum Analyst Patrick DeHaan, these jumps coincide with the time of year when gas prices are most volatile.

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Gas Prices on the Way Down

Posted on Author WKVI

 
 
Gas prices saw the largest monthly decline in September since October of 2012.

The national average price has fallen for 29 days in a row, the longest consecutive decline since April of 2012.

Gas prices in September averaged $3.52 per gallon, which was the lowest national average for the month since 2010 and 31 cents per gallon cheaper than the monthly average a year ago. The AAA Hoosier Motor Club released that refineries have been running smoothly with few problems. Continue reading →

Gas Prices on the Rise – But Why?

Posted on Author WKVI
 
 

The average price of gas in Indiana is once again on the rise, having been increasing since Aug. 28, and is now up to $3.70 per gallon – 10 cents more than the national average, which has remained relatively steady. The national average is currently resting around $3.60, down 5 cents since a month ago. According to Gregg Laskoski of GasBuddy.com, this regional increase can be attributed by rising crude oil prices and, despite common belief, it’s very unlikely that the gas increases in our area are caused by the Labor Day weekend or unrest in the Middle East.

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Rising Gas Prices Prompt Hoosiers to Seek Alternatives in Transportation

Posted on Author WKVI

 
 
The brief respite in gas prices come to a close, having brought prices down to a low average of $3.37 on July 1, and prices are now back on the rise due to unrest in Egypt. The average price of gas in the state is now up to $3.74, and according to GasBuddy.com Senior Petroleum Analyst Patrick DeHaan, the market is shaky and nervous that violent protests in Egypt could spread throughout other parts of the Middle East.

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Middle East Uprising Fuels Latest Gas Price Spike

Posted on Author WKVI

Unrest in Egypt is to blame for rising gas prices, according to GasBuddy.com Senior Petroleum Analyst Patrick DeHaan, who says the market is nervous violent protests could spread to other parts of the Middle East. He cites Energy Information Administration data that indicates crude oil inventories have dropped by six percent or 20 million barrels in the last two weeks. DeHaan adds higher crude oil prices in July are being passed on to consumers at the pumps. He says many retailers in Indiana have raised regular unleaded to $3.75 a gallon and adds prices may continue to climb next week.

Price of Gas Continues to Fall, But For How Long?

Posted on Author WKVI
 
 

The retail price of gasoline throughout the state of Indiana continues to decline at a rapid pace, having dropped from an average of $4.20 on June 6 to $3.57 on June 25, but how long can we expect these prices to continue to fall? According to Patrick DeHaan, senior petroleum analyst at GasBuddy.com, prices should continue to drop for a few weeks, but he said with hurricane season approaching, weather could become a problem.

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Drivers Ecstatic to See Gas Prices Declining

Posted on Author WKVI
 
 

Finally, some relief is to be had at the pumps as drivers gas up. The average price in Indiana has fallen from $4.20 on June 6 to $4.08 on Wednesday, a breath of fresh air despite the fact that the state’s average remains 45 cents higher than the national average. Fortunately, according to GasBuddy.com’s Senior Petroleum Analyst Patrick DeHaan, those prices will keep falling.

“Exxon Mobile’s facility in Joliet, Ill., has come back online and that’s meant a lot of downward pressure on wholesale prices, which will then, in turn, mean a big drop at the pump here in the next week,” said DeHaan.

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Tips to Help you Save Money at the Pump

Posted on Author WKVI
 
 

A lot of changes can happen in a span of eight years. The internet, clothes, hair, social media, the economy and gas prices.

In 2005, WKVI aired a story that dealt with how to get the most out of your car as the price of gas was up to $1.70 a gallon. Fast forward eight years and we’re talking about how to get the most out of your car as the price of gas is over $4.00 a gallon.

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Gas Prices Up Nearly 30 Cents Since Early May

Posted on Author WKVI
 

Motorists are still gritting their teeth as they head to the pumps, dealing with a spike in gasoline prices that has brought the Indiana average up to $3.98 per gallon – 35 cents higher than the national average of $3.63. Patrick DeHaan, senior petroleum analyst at GasBuddy.com, said a refinery glitch that resulted in lower production is likely to blame.

DeHaan explained that the glitch caused the affected refinery in the Great Lakes region to slow its production and forced it to purchase gasoline on the market to cover its contractual obligations.

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Gas Prices up Again; Speculation, Refineries, and Value of Dollar to Blame

Posted on Author WKVI

The price of gas in Indiana is once again on the rise, leaving many consumers asking, “Why?” Gregg Laskoski of GasBuddy.com told WKVI that the increase in price is due to three major factors: oil speculation, refinery issues, and the value of the American dollar.

Laskoski said that three refineries in the Great Lakes region have been suffering from problems, and on top of that, double-digit wholesale price increases that occurred as recently as late last week are being reflected in the retail price at the pump, driving Indiana’s average price up 14 cents per gallon in the past week. With an average state price of $3.84 against the national average of $3.69, Laskoski said the declining value of the dollar certainly isn’t helping.

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Gas Prices Expected to Rise

Posted on Author WKVI

Gas prices have fallen nearly 12 cents over the last two weeks, but it looks like that trend may be coming to a stop.

The average cost of a gallon of regular gasoline is $3.26, down 58 cents over the past 11 weeks.

Analysts say higher crude oil prices will turn into higher wholesale gasoline prices.  Expect prices to jump 5 or 10 cents per gallon soon.

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Cost of Gas Back on the Rise

Posted on Author WKVI

The cost of gas is back on the rise as some stations in Indiana report prices as high as $3.89 per gallon. GasBuddy.com Senior Petroleum Analyst Patrick DeHaan said this is due in part to the increasing cost of wholesale gasoline, and while he does expect them to decrease in the near future, they will likely stay in the mid-three dollar range for the rest of the year.

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