'Tanks' a lot: Gas dips to $1.75 on Far Eastside

Tom Spalding

November 10, 2008 by Tom Spalding | Star staff

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Move over, Brownsburg. The best fuel deals today are occurring on the Far Eastside.

At least a dozen filling stations -- in an area generally centered around Post Road, Shadeland Avenue and East Washington Street -- were selling the cheapest gallon of gas in the $1.74 to $1.76 range.

That tops the price war that has been occurring in Hendricks County and Indianapolis' Northwestside since late October. While many other motorists were paying $2.20 a gallon, it was being sold in those areas in the $1.80-range.

Click here to find the cheapest gasoline prices in the Indy metro area.

The average price, meanwhile, in Indianapolis dipped a penny overnight to $1.91, according to AAA and the Oil Price Information Service.

And statewide, gas prices now are right at the $2 mark - the lowest they've been since May 2005.

Indiana Attorney General Steve Carter said in a statement released Friday that Indiana now has the fifth-cheapest gas in the nation.

Carter said the state’s average gas price has fallen by 50 percent in the past eight weeks, down from a high of $4.18 on Sept. 16.


According to AAA, Indiana’s price is 24 cents below the national average.


The lower gas prices were made possible in part by the global financial crisis because as economies falter, so does the demand for the oil needed to keep them running. That, in turn, has forced down the price of a barrel of oil.

Could it get lower? Oil prices jumped above $64 a barrel today as world stock markets rallied on news of a massive Chinese economic stimulus plan, which could underpin demand for crude. CLICK HERE to see the national outlook.

Categories: Business, Business

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indiana attorney general, world stock markets, oil price information service, global financial crisis, price of a barrel of oil, economic stimulus plan, national outlook, steve carter, Indystar, pump patrol, hendricks county, gallon of gas, price war, gas price, gas prices, oil prices, motorists, aaa, best deals, Indianapolis, Business, gasoline prices, metro area, east washington street

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