Hoosier drivers enjoying fourth straight year of lower gas prices

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INDIANAPOLIS, Ind. —  Hoosier drivers should expect the month of December to be kind to them at the gas pump according to GasBuddy.com.

December 2016 prices are expected to average just over $2 for the month, which will then keep the national average well under $2.50. If that’s the case, it would mark the fourth straight year that prices have dropped.

But economists hesitate to go much beyond the first couple of months of 2017, citing possible issues that could impact prices and disrupt production and infrastructure such as the hurricane season.

In addition, gasoline taxes are being evaluated in several states.  The federal government may look at increasing taxes on gasoline, something it hasn’t done since 1993. Several states have already raised prices like New Year, and several other states are identifying the best methods to raise funding for road repairs. The current low-cost environment of gasoline makes raising taxes an attractive option for those cash-strapped states.

Currently Indiana is in the middle of the pack of states in gas taxes, averaging just about 33 cents a gallon.

Alaska leads the nation with the cheapest gas tax per gallon at just about 13 cents, while Pennsylvania tops the nation at nearly 50 plus cents per gallon.

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