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.
-
Rice leads No. 16 Indiana past South Carolina
Myles Rice scored 17 of his 23 points in the first half and No. 16 Indiana defeated South Carolina 87-71 on Saturday.
California health officials report first case of new form of mpox in the US
The first known case of clade I mpox in the U.S. was recently discovered in a person in California, the Centers for Disease Control and Prevention said Saturday.
Ball St. fires coach Mike Neu after 4 straight losing seasons
Ball State fired coach Mike Neu on Saturday following four straight losing seasons since winning his only Mid-American Conference title.
Southwest flight headed to Indy struck by gunfire at Dallas airport
According to the Federal Aviation Administration, while taxiing for takeoff at Dallas Love Field Airport, a Southwest Airlines headed to Indy was reportedly struck by gunfire Friday night.
