Average gas price jumps 15 cents in a day
INDIANAPOLIS — Gas prices in Indiana averaged $3.87 a gallon Friday, a 15-cent increase from the previous day, according to AAA.
While prices jumped locally, Indiana’s average remains below the national average of $4.37.
To help lower costs for motorists, Gov. Mike Braun signed an executive order Sept. 30. This order extends the state’s energy emergency and the suspension of Indiana’s gasoline use and excise taxes through Nov. 4. Braun first suspended the gasoline use tax in April and added the excise tax suspension in May.
“Extremely ridiculous,” driver Mark Allen said. “Like the up and down, more up than down. Wages aren’t going up. Cost of living is going up, but, you know, you can’t keep up with it.”
Allen said the high prices have kept him off the roads as much as possible.
“Both of my vehicles are larger size engines, so it’s kind of hard to keep up with the way the prices keep rising,” he said.
Economic experts said conflict in the Middle East is pushing up oil prices worldwide.
Andreas Hauskrecht, a clinical professor of business economics at the Indiana University Kelley School of Business, noted three choking points: the Strait of Hormuz, the Bab al-Mandab Strait, and the East-West Pipeline, also known as the Petroline, in Saudi Arabia.
The East-West Pipeline is 746 miles long and carries up to 7 million barrels a day from Abqaiq to Yanbu and was built to bypass the Strait of Hormuz.
“Now the Houthis are attacking with drones this pipeline again, and again and again,” said Hauskrecht.
Because of the instability in the region, Hauskrecht said he does not expect prices to drop soon.
“Do I see a tendency of significantly falling, falling gas prices? No. I don’t see any hope for 2026,” he said.
Braun also on Sept. 30 suspended special fuel restrictions for dyed diesel. The change allowed Indiana farmers and timber harvesters to use the fuel — typically reserved for off-road use — in highway vehicles to haul agricultural products. Five days later, President Donald Trump signed an executive order to the same effect through the rest of 2026.
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