Categorized | Business, Energy

Average gas prices in Hawaii fall 0.9 cents per gallon the past week

MEDIA RELEASE

December 7- Average retail gasoline prices in Hawaii have fallen 0.9 cents per gallon in the past week, averaging $2.80/g yesterday, according to GasBuddy’s daily survey of 355 gas outlets in Hawaii. This compares with the national average that has not moved in the last week to $2.03/g, according to gasoline price website GasBuddy.com

Areas nearby Hawaii and their current gas price climate:

  • Alaska- $2.36/g, up 2.9 cents per gallon from last week’s $2.33/g.
  • Anchorage- $2.25/g, up 1.5 cents per gallon from last week’s $2.24/g.
  • Honolulu- $2.63/g, down 2.6 cents per gallon from last week’s $2.66/g.

Including the change in gas prices in Hawaii during the past week, prices yesterday were 98.3 cents per gallon lower than the same day one year ago and are 6.0 cents per gallon lower than a month ago. The national average has decreased 18.5 cents per gallon during the last month and stands 63.2 cents per gallon lower than this day one year ago.

“The next 24 hours will likely see the national average drop to a new six-plus year low. The U.S. average needs to fall just seven-tenths of a penny from its current $2.032 per gallon (to $2.025/gal.) to be the lowest since March 25, 2009,” said Patrick DeHaan, GasBuddy senior petroleum analyst. “As for the outcome of OPEC’s meeting late last week: OPEC is going to wait for production to resume from Iran before looking at oil production quotas again next year. While we wait and see what that next meeting might bring, high oil production will likely continue to boost already record high oil inventories, keeping gasoline prices somewhat subdued. The national average has once again resumed falling after Turkey’s downing of a Russian fighter jet caused a brief hiatus, but with prices moving lower, a $1.99 national average gasoline price could be something we witness this week,” he added.

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

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