Gas Prices Rising Across State, Experts Hopeful For Drop Toward Holidays

Gas prices are once again on the rise across Indiana, and Senior Petroleum Analyst Patrick DeHaan says it’s nothing unexpected. Since midnight yesterday across the state, prices have risen at least $0.02 per gallon as some stations report prices of $3.99 and up. The average price of gas in the Knox area is $3.99 while the average price in La Porte is $4.19 per gallon.

DeHaan explained that gas prices in smaller areas such as Knox, Winamac, Culver, and La Porte are hard to predict, but larger metro areas such as Fort Wayne, South Bend, and Indianapolis are enduring gasoline spikes of several cents per gallon. Fortunately, DeHaan says this is only temporary; as the holidays approach, gas prices tend to decrease.

“I wouldn’t necessarily say that gasoline prices are poised to fall in the next week or so,” DeHaan said, “But compare today to where I expect that will be in November, I think prices will fall between now and then, but perhaps not in the next few weeks.”

DeHaan says this jump in prices is part of the cyclical nature of gasoline prices in the Indiana, Ohio, and Michigan region. He says prices have a tendency to rise and slowly trickle back down before rising again. He says there is no concrete reason for this, but he says volatility in the market always plays a part.

DeHaan is hopeful that prices in the Knox area will bottom out between Thanksgiving and Christmas to between $3.40 and $3.80 per gallon.