Hoosiers line up for cheap gas prices; experts predict uptick soon

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CRAWFORDSVILLE, Ind. (Jan. 2, 2015) — Gas prices continue to drop and are some of the lowest prices we’ve seen in many years.

According to AAA, the average price for a gallon of self-serve regular in the Indianapolis area is $1.89 compared to a year ago when prices were $3.38. The lower prices mean money is staying in your pocket or bank account when you go to the pump.

Crawfordsville appears to have some of the lowest prices. It’s where some stations are selling at between $1.52 and $1.58 per gallon.

“$20 can last me three days of work,” said Annett Mason of Crawfordsville.

Mason is a mail carrier who uses her own money to fill up her own vehicle. She’s excited about the cheap gas and is saving the money she’s not spending.

“We’re planning to move back to Michigan after my daughter graduates, so it’s going towards our move,” Mason said.

Financial expert Peter “Pete The Planner” Dunn says don’t get used to these prices.

“They’re not gonna stick this low for that long,” Dunn said.

Dunn worries about some adverse consequences to the lower prices.

“People may start budgeting their fuel expenses based off these lower prices, which is just a bad idea in general.”

Dunn says save what you can.

“Transfer the remainder of what you would have put in your gas tank a few months ago and put it in your kids college fund or put it in your savings account or just make a contribution to something,” he said.

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