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Gasoline prices dropping


Average retail gasoline prices in Indiana have fallen 19.6¢ per gallon in the past week, averaging $3.44 a gallon. This compares with the national average that has fallen 9¢ per gallon in the last week to $3.67 a gallon, according to gasoline price website

Including the change in gas prices in Indiana during the past week, prices on Oct. 20 were 9.1¢ per gallon higher than the same day one year ago and are 35.4¢ per gallon lower than a month ago. The national average has decreased 14.2¢ per gallon during the last month and stands 20.1¢ per gallon higher than this day one year ago.

"Only one other time in the last few years have we seen the national average drop so significantly in the course of just a week, and that other time was in May 2011," said Senior Petroleum Analyst Patrick DeHaan. "Looking back at our data, we only see that prices dropped considerably more in autumn 2008 when the economy slipped into a recession. Given the circumstances with this latest weekly decrease – that it has nothing to do with recession – is significant."