MEDIA RELEASE

February 15- Average retail gasoline prices in Hawaii have fallen 2.9 cents per gallon in the past week, averaging $2.61/g yesterday, according to GasBuddy’s daily survey of 355 gas outlets in Hawaii. This compares with the national average that has fallen 3.9 cents per gallon in the last week to $1.69/g, according to gasoline price website GasBuddy.com

Including the change in gas prices in Hawaii during the past week, prices yesterday were 40.2 cents per gallon lower than the same day one year ago and are 4.1 cents per gallon lower than a month ago. The national average has decreased 23.0 cents per gallon during the last month and stands 55.5 cents per gallon lower than this day one year ago.

According to GasBuddy historical data, gasoline prices on February 15 in Hawaii have ranged widely over the last five years:
$3.01/g in 2015, $4.03/g in 2014, $4.27/g in 2013, $4.19/g in 2012 and $3.73/g in 2011.

Areas nearby Hawaii and their current gas price climate:

• Alaska- $2.22/g, down 8.5 cents per gallon from last week’s $2.30/g.
• Anchorage- $2.12/g, down 7.7 cents per gallon from last week’s $2.20/g.
• Honolulu- $2.42/g, down 3.3 cents per gallon from last week’s $2.45/g.

“We are mid-February and 45 out of 50 states have a state gas average below $2 and the national average is at a multi-year low. Sadly, these incredibly low gas prices won’t be here forever, as refineries talk of production cuts with crude oil at 13 year low. Additionally, their Spring turnarounds and the changeover to summer spec gasoline also loom ominously on the horizon. The sooner the refineries can complete their maintenance and start producing gasoline again the better for drivers everywhere,” said Jeff Pelton, a GasBuddy.com senior petroleum analyst.

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