Demand for gasoline is on the rise, but oil production is not expected to increase in the near future which will result in higher prices at the pump.
Continue readingGas Prices Expected to Continue Upward Trend
Gas Prices Expected to Fluctuate Throughout February
Hoosier drivers can expect to see gas prices continue to fluctuate during the month of February. GasBuddy’s Head of Petroleum Analysis Patrick DeHaan said drivers probably noticed higher prices starting on Monday of this week.
Continue readingFactors Impacting Crude Oil Prices and Ways to Save on Fuel Provided by Senior Petroleum Analyst
Gasbuddy.com Senior Petroleum Analysts Patrick DeHaan and Dan McTeague collaborated on a fuel price outlook for 2018.
Though the men did predict an expensive year ahead when they issued the prediction on January 3rd, McTeague said conservative figures were utilized in order to avoid making any assumptions that could have been considered too high. Five weeks into the New Year even the maximum predictions have been surpassed.
McTeague explained that one factor currently contributing to dwindling crude oil inventories is a leak to a frequently used pipeline. Continue reading
Senior Petroleum Analyst Expects High Gas Prices to Continue in 2018
For the last 10 weeks, the United States has consecutively seen a steady decline in crude oil inventories, according to Gasbuddy.com Senior Petroleum Analyst Dan McTeague.
In January of 2017, the cost of a barrel of oil was around $52. McTeague shared that right now, we’re seeing prices closer to $66. That is a $14 difference and he said it may increase as the year goes on with high demand at the national and international level, increased exports and stalled production continuing to impact costs. Continue reading
Gas Prices Expected to Drop from Current Levels but Remain Higher than Last Year’s Prices
Gas prices are starting to head back down after a large spike last week, but they’re expected to stay above last year’s levels as the Thanksgiving travel season approaches. That’s according to GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. Continue reading
Refinery Maintenance, Pipeline Leak Lead to Spike in Gas Prices
Fuel Analyst Says Gas Prices Have Fallen From Last Month But Risen From Last Year
You may have noticed that gas prices have recently gone down. Though that is partially due to certain areas finally regaining stability after the recent natural disasters, it also has to do with the annual switch from summer fuel to winter fuel. Senior Petroleum Analyst for Gas Buddy, Dan McTeague said that prices in Indiana have dropped on average around 15 cents from last month, when there was still speculation and concern over the amount of refineries damaged.
Though we may be experiencing lower gas prices than a month ago, compared to this time of year in 2016, we’re paying approximately twenty more cents. McTeague said there a few factors responsible for that difference. Continue reading
Petroleum Analyst Provides Some Perspective on Indiana Gas Prices
Gas prices may be up 24 cents from last year’s average but compared to individuals on the east coast, drivers in Indiana won’t be seeing much of an impact from Hurricane Harvey at the pump. According to GasBuddy.com Senior Petroleum Analyst Daniel McTeague, Indiana’s gas prices are impacted by the Chicago Spot Market, not the New York Market. Continue reading
Petroleum Analysts Wait to See How Harvey Impacts National Gas Prices
As first responders attend to the devastation and destruction caused by Tropical Storm Harvey, fuel analysts wait to see how national gas prices will be impacted. Senior Petroleum Analyst for GasBuddy.com Partick DeHaan said that during Hurricane Katrina whole-sale gas prices shot up 40 cents a gallon. Though he expects a similar reaction, the current projections are still unknown. Continue reading
Gas Prices Expected to Continue to Rise
The price of gas may have leveled off over the past few days, but there may still be some more increases ahead. Continue reading
Prices at the Pump Projected to Keep Decreasing
The national average price at the pump is lower at the start of August than it was at the beginning of July. GasBuddy Senior Petroleum Analyst Patrick DeHaan accounts the decreased prices to an overall dip in crude-oil costs. He says the cost of crude-oil has gone down due to the abundance of crude-oil being supplied. Indiana is averaging at $2.47 a gallon, offering lowering prices than our neighboring states of Illinois, Michigan and Wisconsin. Continue reading
State Sees Increase in Gas Prices
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.
Expert Offers Advice to Maximize Fuel Economy
Taking the lead out of your foot when you drive will put more pennies in your pocket. GasBuddy.com Senior Petroleum Analyst Patrick DeHaan says slowing down is one of the best ways to avoid having to fill up as often.
“Driving behavior is probably the number one potential for savings when it comes to the pump. You can certainly get your car to go longer more on a tank of gas if you’re just driving less aggressively,” DeHaan said.
He admits that’s easier said than done but says it’s best to maintain a steady speed whenever possible. Continue reading
Gas Prices Holding Steady, No Drop in Sight
Gas prices remain close to $4 per gallon of regular unleaded in the Kankakee Valley. GasBuddy.com senior petroleum analyst Patrick DeHaan says they should have dropped by the middle to end of May. He says there’s no specific reason but notes wholesale prices are higher. DeHaan says he’s been waiting for prices to drop or trends to shift. He says the tipping point that should revert to a downward trend should occur at any time, but it hasn’t happened yet. Meanwhile, he says refineries are looking good and production is up, so he doesn’t expect gas prices to go up considerably more before they eventually drop.
Gas Prices Still Fluctuating in Indiana
Congresswoman Walorski Aims to Pass GAS Act
“It’s certainly a big step in the right direction. Politicians have long looked at price gouging and other factors behind gas prices, but I think this is the root of all evil here, is the fragmentation that exists with boutique fuels – that is, different cities, different counties, maybe utilizing and consuming different types of gasoline than other nearby cities,” said DeHaan.
Gas Prices on the Rise – But Why?
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.
Rising Gas Prices Prompt Hoosiers to Seek Alternatives in Transportation
Middle East Uprising Fuels Latest Gas Price Spike
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.
Gas Prices to Increase Slightly
You will see an uptick in gas prices today but it’s not because of the impending Fourth of July holiday.
GasBuddy.com Senior Petroleum Analyst Patrick DeHaan said this is a normal fluctuation in prices. Oil saw a $2 gain in the market which is the cause of the increase.
