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.
-
Motorcyclist killed in northwest side hit-and-run, 21-year-old man arrested
Indianapolis Metropolitan Police Department officers responded to the 5600 block of Michigan Road on reports of a crash just after 8 p.m.FIESTA Indianapolis becomes celebration of Latino culture and heritage
FIESTA Indianapolis showcased Hispanic and Latino culture at Military Park. The Hispanic Heritage Month celebration hosted by La Plaza has become an annual Indianapolis tradition dating back to 1981.Art Squared highlights Fountain Square art installation, showcases Indy artists
This year, the theme was “You Art Beautiful,” paying homage to the iconic You Are Beautiful installation in Fountain Square with a shoutout to the underground punk rock scene.Sunflower celebration at Waterman’s Family Farm welcomes fall
Waterman’s Family Farm planted over 11,000 seeds to fill the patch. The farm is inviting people to come and join them in picking the sunflowers and getting into the fall spirit.