INDIANAPOLIS — Gas prices in parts of Indianapolis are hitting more than $5 per gallon. That number is a quarter more than the reported national average.
“I used to spend $40 a week going to get gas,” says April Lindsey filling her gas tank at an Indy gas station, “I used to live in Castleton. I live in Clayton now, and [with my commute now] it’s over $100 a week.”
It will cost $132 to fill a new Ford F-150, and $80 for a Toyota Camry. Ananth Iyer is the Senior Associate Dean in Purdue’s Krannert School of Management. He believes Indiana may be seeing higher prices because of a lack of flexibility which can lead to more demand. That may be because the state has fewer electric cars than other regions, or drivers are not planning to accomplish more on fewer routes.
“If you are worried about gas prices, just look at diesel prices right. Those are a lot greater,” adds Iyer to the list of reasons for high gas prices in Indy, “The guys moving the gas to the gas station, their diesel prices have gone up a lot more. Someone has to pay for it, and that someone is the customer at the pump.”
Bobby Key bought the first individually owned Shell gas station in Indy in 1980. His spot is selling gas for $5.09. It’s the highest he has ever seen.
“I remember when gas was 19 cents a gallon when I was 15-16 years old,” laughs Key, “Price-wise we are pretty much on the top right now.”
Key owns several other establishments near his Shell on Kentucky Avenue. He says the Subway inside of his station is the highest volume Subway inside of a gas station in the country.
“To be honest I don’t know,” shrugged Key when asked about when gas prices may drop, “Fortunately, I am not dependent on the gas revenue. I watch the competition to be honest with you. My goal is I will not let anyone undersell us.”
Overall, Indiana is still ahead of places like California. Parts of that state are hitting nearly $7 a gallon.
“Prices in California are always higher than prices in other states, and that is because California is trying to speed up the push to electric vehicles primarily to solve their pollution problems,” details Iyer.
