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.
-
Kalen Jackson grew up in football, developed a passion to help others
Kalen Jackson was born into the NFL as the youngest daughter of Indianapolis Colts owner Jim Irsay, so her love for the sport developed at an early ageWNBA playoff picture starting to come into focus as Fever lock into sixth seed
Caitlin Clark and the Indiana Fever are locked into sixth and will be on the road either in Connecticut or Las Vegas for the opening round.Hezbollah official says walkie-talkies exploded day after deadly pager blasts
A Hezbollah official says walkie-talkies used by the group exploded as part of blasts heard across Beirut.Poll: Majority supports mass deportation of undocumented immigrants
A majority of Americans support the mass deportation of undocumented immigrants, according to a new Scripps News/Ipsos survey.