Categorized | Business, Energy

Average gas prices in Hawaii rise 2.2 cents per gallon the past week

MEDIA RELEASE

March 2- Average retail gasoline prices in Hawaii have risen 2.2 cents per gallon in the past week, averaging $3.05/g yesterday, according to GasBuddy’s daily survey of 355 gas outlets in Hawaii. This compares with the national average that has increased 12.0 cents per gallon in the last week to $2.42/g, according to gasoline price website GasBuddy.com

Including the change in gas prices in Hawaii during the past week, prices yesterday were 102.8 cents per gallon lower than the same day one year ago and are 5.1 cents per gallon lower than a month ago. The national average has increased 37.4 cents per gallon during the last month and stands 103.8 cents per gallon lower than this day one year ago.

“The spring spike has hit pumps across the nation, and it certainly has motorists wonder what in the heck is going on,” said Patrick DeHaan, GasBuddy senior petroleum analyst. “New records were broken last week in California as prices spiked at their fastest pace ever, even faster than when Chevron’s sprawling Richmond, CA refinery caught fire. Meanwhile every single state- all 50 of them- saw a price increase in the last week, with a common theme behind the increases: refinery this, refinery that,” he said.

DeHaan noted that In the last two weeks, a rash of refinery problems has pushed up wholesale prices significantly: an explosion at a California refinery, unexpected cold-related shut downs along the East Coast and Great Lakes, and maintenance that’s beginning at other refineries across the country. If that wasn’t enough, throw in the transition to cleaner, more costly blends of gasoline and declining gasoline inventories, and it’s a bleak picture.

DeHaan said while the massive spikes on the West Coast will likely slow over the next week, “increases will persist country wide, and the general upward trend will likely remain in place for 6-8 more weeks before motorists see declining prices ahead of Memorial Day weekend as maintenance work wraps up and the transition to summer gasoline concludes.”

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

One Response to “Average gas prices in Hawaii rise 2.2 cents per gallon the past week”

  1. Earl Richards says:

    Global oil prices are dropping, so the gasoline price should drop. Google and read the “$2.5 Trillion Oil Scam – slideshare.” Hawaii is a victim of this scam.

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