(INDIANAPOLIS) - Motorists in Indiana can expect to see a sharp increase in gas prices starting on Friday.
The State's 120-day gas tax holiday will officially expire. Which means drivers can expect to pay some more at the pump.
The temporary suspension order by Governor Mike Braun in April paused the State's gasoline excise tax and gasoline use tax in response to global oil supply disruptions. On August 7, both taxes will be reinstated increasing gas prices by 61 cents per gallon statewide.
The temporary suspension ends at 11:59 PM Thursday, August 6.
The standard gasoline excise tax is set at 37 cents per gallon, while the gasoline use tax, which functions as the state's 7% sales tax on fuel, is adjusted monthly based on average retail gasoline prices.
The temporary tax relief that went into effect in April reduced gasoline prices by roughly 61 cents per gallon, helping Indiana maintain some of the nation's lowest average fuel prices throughout the summer travel season.
Under Indiana Law, an emergency suspension of fuel taxes can remain in effect for a maximum of 120 days. Any extension beyond that period would require action by the Indiana General Assembly.