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Supply driving central Indiana gas prices higher

One analyst expects the gas supply to increase and prices start to come down again as scheduled maintenance at refineries wraps up.

INDIANAPOLIS — Gas prices shot up 45 cents per gallon in central Indiana in the past week, reaching an average of $4.24 Monday, according to GasBuddy.com which surveys more than 650 stations in and around Indianapolis. 

"Just over half of the nation's 50 states saw gasoline prices rise last week, pulling the national average back up for the time being due to big jumps in the Great Lakes and continued increases in New England and mid-Atlantic states," said Patrick De Haan, head of petroleum analysis at GasBuddy. 

De Haan cited tight supplies as the reason Great Lakes gas prices are so high. He expects the supply to increase and prices start to come down again as scheduled maintenance at refineries wraps up and production starts to churn again.

Indiana's average per gallon price is running nearly 40 cents higher than the national average, according to AAA.

Pump prices could continue to increase if supplies remains tight alongside rising oil prices.

RELATED: No, the U.S. isn’t going to run out of diesel fuel in 25 days

As Hoosiers plan Thanksgiving travel, they should note that stations in the Lake Michigan and East Chicago region are averaging close to $4.40 per gallon right now, while stations in southwestern Indiana are closer to $3.80 and as low as $3.50 near Evansville. 

Some stations around Indianapolis were selling a gallon in the $3.80 range Monday, but those represent member prices at wholesale clubs.

Meanwhile, The national average price of diesel has risen 3.4 cents in the last week and stands at $5.32 per gallon. 

RELATED: Citizens Energy Group warns customers of projected $90 rate hike for winter season

 

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