Categorized | Business, Energy

Average gas prices in Hawaii rise 4.2 cents per gallon the past week

MEDIA RELEASE

Hawaii, April 28- Average retail gasoline prices in Hawaii have risen 4.2 cents per gallon in the past week, averaging $4.34/g yesterday, according to GasBuddy’s daily survey of 355 gas outlets in Hawaii. This compares with the national average that has increased 2.5 cents per gallon in the last week to $3.65/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Hawaii during the past week, prices yesterday were unchanged compared to the same day one year ago and are 14.1 cents per gallon higher than a month ago. The national average has increased 12.9 cents per gallon during the last month and stands 16.5 cents per gallon higher than this day one year ago.

“While the national average has risen for the 12th straight week, it is likely nearing a peak,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “Gas price increases have continued since early February but are likely nearing an end as oil refineries conclude seasonal maintenance, and the switchover to summer gasoline is nearing completion. Meanwhile, oil inventories are at their highest ever level as reported by the Energy Information Administration, which cited crude oil stocks at a record high of 397.7 million barrels, which should help propel oil prices lower in coming weeks as some storage facilities near capacity. For motorists, the peak to retail gasoline prices is likely very near, with some relief to follow in coming weeks as pressure eases on factors that drive gasoline prices, ” DeHaan said.

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

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

 

Quantcast