Categorized | Business, Energy

Average gas prices in Hawaii fall 4.1 cents per gallon the past week, rises 12.6 cents nationally

MEDIA RELEASE

February 9- Average retail gasoline prices in Hawaii have fallen 4.1 cents per gallon in the past week, averaging $3.06/g yesterday, according to GasBuddy’s daily survey of 355 gas outlets in Hawaii. This compares with the national average that has increased 12.6 cents per gallon in the last week to $2.17/g, according to gasoline price website GasBuddy.com

Including the change in gas prices in Hawaii during the past week, prices yesterday were 94.7 cents per gallon lower than the same day one year ago and are 38.2 cents per gallon lower than a month ago. The national average has increased 1.7 cents per gallon during the last month and stands 110.7 cents per gallon lower than this day one year ago.

“This past week gasoline prices saw the largest weekly incline since July, 2013. While the pace of increases will slow in the week ahead, we’re looking at continued gas price increases over the next few weeks. Oil prices have risen, contributing to the higher prices, but also worrisome are the refinery strikes initiated over the last week that have oil companies scrambling to keep refineries online. Just yesterday, more strikes hit refineries in the Midwest, and while the strikes are not currently a contributor to higher gasoline prices, should there come a time when the strikes cause less production of refined fuels, motorists can expect spikes,” said Patrick DeHaan, senior petroleum analyst with GasBuddy. “But while gasoline prices have rebounded, diesel consumers have not seen the massive spikes that their gasoline counterparts have. In fact, diesel prices will likely continue to slowly drift lower,” DeHaan noted.

In the last week, the percentage of gas stations selling under $2/gal has shrunk by a large margin: a week ago, more than half of all gas stations were under $2.00/gal, but now just 27% are selling under $2/gal. Similarly, the number of stations charging over $2.25/gal has risen from 17% a week ago to 31% currently. A fuel price map showing changes in gas prices versus last week is attached, “Feb9.png”

As of Sunday night, some of the largest increases across the U.S. in the last week: Danville, IL: up 31.6c/gal, Bloomington/Normal, IL: up 27.4c/gal, Cape Girardeau, MO: up 26.7c/gal, Toledo, OH: up 25.6c/gal, Huntington, WV: up 25.2c/gal, Wichita, KS: up 24.9c/gal. A complete listing of the biggest movers can be accessed here: http://media.gasbuddy.com/#BiggestMovers

For Big Island gas prices and trends visit — www.hawaii247.com/gas

One Response to “Average gas prices in Hawaii fall 4.1 cents per gallon the past week, rises 12.6 cents nationally”

  1. Pablo says:

    In Hawaii, Tesoro is the name for gas from Venezuela. Yet in Nicaragua, which gets all its gas from Veneluela it costs over 40 cents more per gallon, ¿Why is this the case?

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