Gas prices hover around $3/gallon mark in South Bend area

Gas prices have been on the rise nationwide, but at a much lower rate. Indiana has seen a slight decrease.

“In these two weeks, the prices are up a nickel. This is a very small increase compared to recently,” said Trilby Lundberg, oil and gas analyst with the Lundberg Survey.

Oil prices have also reached $71 per barrel, which is the highest since 2018. The national average is $3.13. In Indiana, the average is $3.04. That’s down two cents from where it was June 7.

“Consumers are price-resistant. There is higher inflation. There is a meager return to work level. In general, motorists can simply not afford much gasoline at this price,” said Lundberg.

Even if prices seem like they are going down slightly at times, they are likely to stay around the $3 per gallon mark throughout the summer.

“Strong gasoline demand as states and cities reopen will likely continue to be a major factor keeping gas prices elevated even as oil production climbs in the months ahead,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “With most additional supply being gobbled up very quickly, gas prices will likely stay at elevated levels for the foreseeable future. Motorists can continue to fight the high gas prices by remembering to shop around each time they get below half a tank.”

The average price for gas was at $3/gallon on Monday, June 14, according to GasBuddy.

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