Gas companies rake Indy 500 fans over coals

Gas prices jumped about 30 cents per gallon Tuesday in central Indiana, reinforcing a common belief among Hoosiers that suppliers purposefully raise their prices right before the Indianapolis 500, but that may not be rooted in reality.

A gallon of regular unleaded gas at most stations increased from about $2.15 to $2.45 early Tuesday morning.

Suppliers deny that fluctuations in prices have anything to do with the race or the upcoming Memorial Day weekend, but said larger forces are in play. Oil prices jumped to over $60 a barrel on Tuesday as concerns mounted that an economic rebound might spark demand for gas and other fuels.

Nationwide, retail gasoline prices have risen every day this month after lingering below $2 from December through most of March.

Prices edged up at the pump again overnight, climbing 0.3 cents to $2.314 a gallon, according to auto club AAA, Wright Express and Oil Price Information Service.

That is 6.6 cents higher than a week ago and 25.7 cents higher than a month ago, but $1.48 a gallon lower than a year ago.

"Times are a lot harder now than they were last year … look how many people have lost their jobs," said driver Charles Swink. "$2.45 is just not helping them out." WRTV