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Indiana's Gas Prices Fourth Lowest In Nation, AAA Says

Gas prices

Hoosiers are seeing lower gas prices compared to most of the nation.

Indiana's statewide gas price average of $1.99 per gallon is the fourth lowest in the nation, according to AAA Hoosier Motor Club.

That's the lowest price since 2009, AAA says. This streak of declining prices is the longest ever. There have been 97 days of falling prices.

Only Missouri, Oklahoma and Ohio have lower average prices, and seven other states currently have average prices within 10 cents of that mark.

AAA Hoosier Motor Club Public Affairs Manager Greg Seiter says high production and reduced demand for petroleum are contributing the plummeting prices.

"Crude oil prices have been steadily dropping, North American stockpiles and overall petroleum production are high and the overall demand for petroleum is down," Seiter says. "The absence of extremely cold temperatures, which increases the demand for heating oil, is also working in our favor."

AAA says it estimates that Americans saved approximately $14 billion on gasoline in 2014. The organization says the annual average price of gasoline in 2014 was $3.34 per gallon, which was about 15 cents less than 2013's annual average of $3.49 per gallon

Today's prices on average are more than $1 less per gallon than a year ago, which means drivers could be saving $15 to $30 each time they fill up their tanks.

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