Give Now

Delays, Closings and Severe Weather - View All Alerts and Updates

Gas Prices To Reach Multi-Year High During Holiday Season

Cars at a Shell gas station

Photo: Lauren Chapman/IPB News

Indiana gas prices are on average about 65 cents higher per gallon than this time last year.

You’ll likely have to pay more if you’re traveling this holiday season because of rising gas prices across the country.

Patrick DeHaan is the head of petroleum analysis at GasBuddy. He says gas prices are already increasing, and will likely get higher as the holidays approach.

“Going into Thanksgiving travel, gas price is likely to be on average in the mid-$2 per gallon range,” DeHaan says.

DeHaan says gas prices are hitting annual highs, and even beating out prices from previous years. He says Indiana gas prices are on average about 65 cents higher per gallon than this time last year.

The increase is because the Organization of the Petrolium Exporting Countries, or OPEC, reached an agreement just after last Thanksgiving to cut oil production, DeHaan says.

“That has kind of permanently had an effect on the price of oil after that announcement,” DeHaan says. “And that has led oil prices to be much higher this year than where they were last year.”

DeHaan says the harsh hurricanes and tropical storms of this year have also resulted in the lowest gasoline inventories in three years, which could be contributing to the higher prices.

AAA reports that 50.9 million Americans will be traveling for Thanksgiving this year. That’s 1.6 million more than last year. The report says it’s the highest number of holiday travelers since 2005.

Want to contact your legislators about an issue that matters to you? Find out how to contact your senators and member of Congress here.

What is RSS? RSS makes it possible to subscribe to a website's updates instead of visiting it by delivering new posts to your RSS reader automatically. Choose to receive some or all of the updates from Indiana Public Media News:

Support For Indiana Public Media Comes From

Search News

Stay Connected

RSS e-mail itunes Facebook Twitter Flickr YouTube

Follow us on Twitter

What is RSS? RSS makes it possible to subscribe to a website's updates instead of visiting it by delivering new posts to your RSS reader automatically. Choose to receive some or all of the updates from Indiana Public Media News:

Recent Transportation Stories

Recent Videos

Find Us on Facebook