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.
-
As asthma peak week approaches, Riley offers symptoms to look out for
The third week of September is considered peak week. Doctors see an increase in the number of asthma flare-ups, a rise in ER visits, and hospitalizations.Indiana University studying how AI impacts false information online
A $7.5 million dollar grant will allow educators to look at way that AI influences information online.'It's heartbreaking': Beloved restaurant catches fire in downtown Rushville
WRTV is on the scene of a large fire in Rushville where residents say a beloved restaurant caught fire on Tuesday.Rachel's Challenge: School safety class introduced at North Central High School
Rachel's Challenge was started after Rachel Scott was in the Columbine High School Shooting. After Rachel’s death, her family discovered that she left behind a legacy of kindness and compassion.