Gas prices have been going up and it appears they will only continue to rise throughout the summer.
“As we approach July 4, it appears the only way forward is for gas prices to continue their rise as Americans insatiable demand for gasoline continues to be the catalyst for the rise in price,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Nobody wants to see gas prices go up, myself included.”
With many Hoosiers and Americans not being able to travel as much as they would have liked to in the summer of 2020, they are traveling more in 2021 with coronavirus infections dropping.
“We have pent up demand because we have been locked down for the last 16 months and Americans, faced with a reopen economy, are getting out just about every weekend,” said DeHaan.
If you are traveling for the Fourth of July holiday, DeHaan said it is important to remember that gas prices vary from state to state.
“Especially if you cross a state line, check the prices on both sides of the state line to see where the deals are. Indiana has cheaper prices than Michigan. Ohio tends to be cheaper than Indiana and so does Kentucky. But wow, do not get stuck filling up in Illinois. That state tends to be much more expensive than Indiana,” said DeHaan.
DeHaan emphasized that gas prices are increasing, in part, because the “economy is healing” and it is not “because of a politician.”
DeHaan hears people say that President Biden’s policies are causing gas prices to go up. He addressed that.
“The two policies that everyone is thinking about is his cancellation of the Keystone XL Pipeline. That is not having an issue yet. It may years down the road. The other one is a moratorium on new drilling. That’s not causing an issue either. Oil companies are not even back to their pre-COVID production levels yet,” said DeHaan.
There is one thing that the President has done that DeHaan said may be having an impact.
“That is the stimulus that he is injected into the economy. Americans are running around with money in their pockets. It’s not a bad thing. It’s better than bankruptcy,” said DeHaan.
Some gas stations are selling gas for as high as $3.19 per gallon in Indianapolis. Prices to as high as $3.29 at some stations in northwest Indiana.
