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Indiana gas price average sets new record, hits $4.63 a gallon

INDIANAPOLIS (WISH) — The average price for a gallon of regular gas was up again Wednesday, setting another state record for the second straight day.

It’s now at $4.63 in Indiana. The national average is $4.57. California broke the $6 average on Tuesday.

A top bank is making a chilling prediction. Analysts at JP Morgan say the national average could be $6 a gallon before the end of summer. But, other analysts say that is unlikely to happen.

Democrats in the Indiana Statehouse have proposed suspending the state’s gas tax to bring down prices.

News 8’s Phil Sanchez on Wednesday asked U.S. Rep. Victoria Spartz, a Republican from Hamilton County, if the federal government should consider the same.

“That can be a temporary fix to ease off the burden that is put on the people so I think that is a valid discussion, but it’s not a long-term solution because ultimately we need to have taxes to pay for infrastructure and it’s a user tax we’re using for that. Although I will be honest with you, there’s a disparity in taxation. For example, diesel is taxed a much higher rate than gas. If you think about it, it gets passed along to every consumer. It’s a political issue actually, not an issue of anything else. We need to think about it because all of those trucks are paying higher taxes and passing it along to the consumer, so I think the state of Indiana needs to discuss it, even. I have a diesel vehicle, a small little car … I pay much higher taxes like large trucks because there is just a lot of politics.”