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.
-
Homicide investigation underway after welfare check call at Barton Tower
According to IMPD, officers were called to the John Barton Tower around 2 p.m. on Wednesday for a welfare check. Officers located a man who was dead from apparent trauma.1984: Grandmother, postmaster awarded Sagamore of the Wabash
Indiana Governor Robert Orr presented 83-year-old Thelma Stouder with the Sagamore of the Wabash award in 1984. Stouder was Indiana's oldest living postmaster.'My First Time' campaign encourages young Hoosiers to vote
Less than half of eligible young Hoosiers ages 18 to 29-years-old voted in the 2020 presidential election. A new campaign is taking a new approach to try and improve turnout this time around.Circle City Classic celebrates its 40th anniversary
Saturday, September 28 is the Circle City Classic. A yearly tradition that keeps bringing alumni from Historically Black Colleges and Universities (HBCUs) to the Hoosier state