Bargain in Brownsburg: $1.99 gas

Tom Spalding

October 28, 2008 by Tom Spalding | Star staff

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If you cringed when gas topped $4 a gallon during June, July and September in Central Indiana, then mildly cheered as it fell to $3 in October, you'll love what's happening today in Brownsburg.

Several stations, including a Speedway, were selling a gallon of unleaded fuel for $1.99 - a 50 percent drop from the summer surges. Prices are spiraling downward even faster than experts predicted.

"Wow. Sweet," said Greg Seiter, a spokesman for AAA Hoosier Motor Club, which tracks prices daily. "It's mind-blowing."

Seiter said the drop is noteworthy. On Sept. 16 - in the wake of high prices caused by Hurricane Ike on the Texas coast and its effect on fuel supplies nationally - the average cost in Indiana hit an all-time high of $4.17 a gallon for unleaded.

The average price for a gallon of gas statewide fell 4 cents overnight to $2.50. (In Indianapolis it was even cheaper - $2.38, down 4 cents. That's $1.25 cheaper than a month ago and 50 cents cheaper than the price on Oct. 28, 2007.)

On an average basis, the price still has to drop across the state to hit our modern-day low of mid-January 2007, when Hoosiers were paying $2.04 on average.

IndyStar.com's Pump Patrol: Click here to see the bargain prices in Central Indiana.

Seiter said Hoosiers need to keep the prices in context and not return to their same driving habits or patterns, since it was sticker shock at the pump that helped reduced demand and drive prices down.

"Our hope and intention is that people keep doing whatever it is they are doing even with prices being more tolerable," Seiter said. "I don't think people can take it as normal."

Categories: Business, Business

Tags: 

hurricane gustav, aaa hoosier motor club, sticker shock, hoosier motor club, seiter, pump patrol, Indystar, gallon of gas, central indiana, unleaded fuel, bargain prices, 50 cents, speedway, intention, spokesman, Indianapolis, Business, hurricane

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