MEDIA RELEASE

January 18- Average retail gasoline prices in Hawaii have fallen 2.7 cents per gallon in the past week, averaging $2.65/g yesterday, according to GasBuddy’s daily survey of 355 gas outlets in Hawaii. This compares with the national average that has fallen 6.5 cents per gallon in the last week to $1.90/g, according to gasoline price website GasBuddy.com

Areas nearby Hawaii and their current gas price climate:

• Alaska- $2.40/g, down 0.5 cents per gallon from last week’s $2.41/g.
• Anchorage- $2.32/g, down 1.4 cents per gallon from last week’s $2.33/g.
• Honolulu- $2.47/g, down 4.5 cents per gallon from last week’s $2.51/g.

Including the change in gas prices in Hawaii during the past week, prices yesterday were 68.8 cents per gallon lower than the same day one year ago and are 8.6 cents per gallon lower than a month ago. The national average has decreased 10.0 cents per gallon during the last month and stands 15.9 cents per gallon lower than this day one year ago.

“The continued and unprecedented plunge in the price of crude oil has continued, allowing gasoline prices in virtually the entire U.S. to continue plummeting,” said Patrick DeHaan, GasBuddy senior petroleum analyst. “From West Coast to East Coast, the decline has hit virtually everyone- and amazingly, we saw a gas price war yesterday in Houghton Lake, Michigan, where for a brief period of time GasBuddy confirmed stations selling at just 47 cents a gallon- prices unheard of in this century. While the 99-cent per gallon barrier was breached there due to competition willing to lose money, the downward trend taking place across the country will continue, with the national average likely to fall into the $1.70’s soon as motorists continue to enjoy falling fuel prices,” DeHaan said.

For a complete listing of current averages and other fuel price data, visit http://media.gasbuddy.com. For fuel news and alerts, follow @GasBuddyNews on Twitter.

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