Gas prices spike in Indianapolis metro area

INDIANAPOLIS (WISH) — Prices at several gas stations in the Indianapolis metro area shot up to $3.99 a gallon overnight, and even experts are stumped as to why.

The BP/Ricker’s at 38th Street and Fall Creek Parkway is one location at $3.99; others include the Marathon at Michigan Street and Belmont Avenue and Speedway at Kentucky & West Streets.

Right now, shows the average price for a gallon of regular gas in Indianapolis is $3.89 and increasing. Nationwide it’s $3.63.

A month ago, Indy’s average price per gallon was $3.70.

And a year ago, when prices were considered high, a gallon cost $3.87.

“Right now, we’re in kind of a limbo,” GasBuddy Senior Petroleum Analyst Patrick DeHaan said. “Prices nationally may actually inch up for the next week or two. Then by the beginning of June, perhaps into mid-June, we should see more relief arriving.”

An inch up now was expected, but this jump to $3.99 even has GasBuddy stumped.

A post on its web site reads: “We’re caught off guard by a (unexplainable) price hike in Indianapolis. Prices at some stations are jumping to $3.99 (complete surprise to us, and we watch numbers daily).”

For its part, AAA blamed gas hikes earlier this spring on refinery maintenance that creates lower gas supplies.

There’s no word yet on the cause this time around.

Experts say short lived relief may come in the weeks ahead, but others are calling for another jump in August.

Click here to check current local gas prices.

blog comments powered by Disqus