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.
-
IMPD hopes community day builds trust in Indianapolis
The department closed down Georgia Street between Meridian and Illinois Streets to welcome over 40 different vendors representing different businesses and government agencies on Thursday.Former IMPD employee, Southport PD chaplain arrested for child molestation
A former IMPD and Southport PD chaplain has been arrested for molesting a child more than 100 times, according to court documents.City of Indianapolis to rent 30 apartments for those experiencing homelessness
It's called "Master Leasing" and is a pilot program that would pay rent for around 30 apartment units starting in November.YMCA daycare worker arrested for Reckless Supervision of Child in Madison County
According to Anderson PD, an investigation into allegations of abuse of a child at the daycare was launched on Aug. 27.