MEDIA RELEASE

Average retail gasoline prices in Hawaii have fallen 3.4 cents per gallon in the past week, averaging $3.41/g. This compares with the national average that has fallen 2.9 cents per gallon in the last week to $2.62/g, according to gasoline price Web site HawaiiGasPrices.com.

Including the change in gas prices in Hawaii during the past week, prices are $1.07/g higher than the same day one year ago and are 0.9 cents per gallon flat than a month ago. The national average has decreased 11.9 cents per gallon during the last month and stands 67.6 cents per gallon higher than this day a year ago.

“Gasoline prices will begin to slowly rise across much of the country as colder than average weather results in rising oil demand as temperatures plummet in key areas that warm their homes using heating oil”, said GasBuddy.com senior petroleum analyst Patrick DeHaan. “However, gasoline prices in the Midwest will buck the trend as stockpiles swell in the Great Lakes area.”

He goes on to mention that stockpiles grew last week to the highest levels since March 2008 in that area, resulting in lower prices as supply greatly outpaces demand.

GasBuddy.com operates more than 200 live gasoline price-tracking websites, including HawaiiGasPrices.com.