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.
-
Indianapolis Mayor praises state lawmakers for passing House Bill 1461
HB 1461 aims to enhance transportation infrastructure management, provide financial incentives and modify funding dynamics for local units and counties.
Richmond house explosion leaves two in 'life-threatening' condition
Two people were left in "life-threatening" condition Thursday following a house explosion in Richmond, police said.
Victim identified in shooting on Indy's near southwest side
Officers responded to the 2000 block of West Morris Street on the report of a person shot. The victim has died.
Suspect in deadly FSU shooting is son of sheriff's deputy and used her weapon
A 20-year-old Florida State University student and son of a sheriff's deputy opened fire on campus Thursday just before noon, killing two people and injuring multiple others, according to police.
