Indiana residents to enjoy lower gas prices at the pump for spring break travels
INDIANAPOLIS, Ind. — Spring break travelers should get ready to see a wide variety of prices at the pump according to AAA motor club.
AAA reports the national average retail price for a gallon of regular unleaded was $2.29 a gallon on Monday and which is a slight drop from the previous day and the eleventh consecutive day for a decline. That follows a dramatic drop last week in crude oil prices, which account for the bulk of what consumers pay at the pump.
“Gas prices may continue to drop in the near future due to declining crude oil prices and a well-supplied market, but will begin to creep up again over the next month due to seasonal refinery maintenance and the May 1 required switch over for producing summer-blend gasoline,” the motor club’s weekly retail market report read.
Crude oil prices have been about $55 a barrel for much of 2017 as demand has been relatively even since January, however the switch over to the summer blend. which is more expensive to produce, will give a bump in prices till the fall according to analysts.
Drivers on the West Coast experience the most expensive gas in the market as California broke through the $3 per gallon mark to post a state average price at $3.01, which is the highest in the 48 states.
The Great Lakes states region had prices declining despite at least three Illinois refineries moving through unplanned maintenance phases before the switch to summer gasoline. Despite the pressure on supplies, Indiana gas prices declined 4.5 percent from last week, the greatest regionally, to reach $2.15 early Tuesday.
A federal report from last week predicted a national average price for 2017 to be at $2.40 per gallon and have predicted that gas prices in 2018 will average about $2.44.