INDIANAPOLIS — Indiana residents will soon be seeing an increase in prices as the gas pump.
The Indiana Department of Revenue published the gas use tax rate for the upcoming month. The tax will be increasing by 1.4 cents to 18.6 cents per gallon starting March 1.
Although the gas tax has decreased in recent months, Hoosiers have seen a significant increase over the last five years. In March 2018 the rate was 13.8 cents and 11.4 cents in March 2019.
At this time last year the gasoline tax rate was 18.4 cents per gallon.
Indiana calculates this tax by taking the average price per gallon of gasoline in the prior month and multiplying it by the state retail tax. The average retail cost of one gallon of gas last month was $2.66.
This means that Indiana residents will end up paying an extra 18 cents per gallon.
This adds up quickly to become an extra $1.80 on 10 gallons of gasoline.
In February, the gas tax was 17.2 cents per gallon, meaning you were spending $1.72 in taxes for every 10 gallons of gas.
Indiana residents pay two additional taxes on top of the gasoline tax. There is an excise tax of 33 cents per gallon and a federal tax of 18 cents per gallon.
With a $2.66 retail price, Hoosiers pay $3.35 per gallon of gas.
The state average for one gallon of gas is currently $3.31.
Visit WRTV’s gas prices page to find the cheapest gas prices near you.
-
Indiana Fever look to keep their season alive against Connecticut in Game 2
Clark struggled in her playoff debut, scoring just 11 points on 4-of-17 shooting. She did have eight assists. She got accidently poked in the eye in the first few minutes of the game.Alexander Rossi inks deal with Ed Carpenter Racing for 2025 season
Rossi, who won the 100th running of the Indianapolis 500, will join Christian Rasmussen as a full-time driver for the team.Ramp from I-69 northbound to 82nd Street now open
On Tuesday, the ramp from I-69 northbound to 82nd Street opened. Drivers can now access 82nd Street when traveling from I-465 north to I-69 north.Illinois and Indiana are both 4-0 and sitting atop the Big Ten standings
Don't look now but Illinois and Indiana, two perennial also-rans in the mighty Big Ten, are both 4-0 and are sitting at the top of the conference table