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.
-
IndyCar finalizes charter system that doesn't guarantee spots in Indy 500
IndyCar has finalized a charter system for 25 entrants that pales in comparison to the contentious deal reached between NASCAR and its teams but does give 10 open wheel organizations some guaranteesDefense asks to take jury to Delphi murders crime scene during trial
The defense asked the court to allow the jury to be taken to the Freedom Bridge, Monon High Bridge and the crime scene where Libby German and Abby Williams were found.Lebanon sees deadliest day of conflict since 2006 as Israeli strikes kill 492
Following a wave of pager explosions last Tuesday, the Israeli military said it struck 300 targets Monday in Lebanon in one of the most intense barrages of airstrikes in nearly a year.I-465 crash involving car, semi kills woman
The only occupant in the crashed vehicle was the driver, who was pronounced dead at the scene. The driver of the semi was not injured.