Categorized | Business, Energy

Average gas prices in Hawaii rise 1.5 cents per gallon the past week

MEDIA RELEASE

February 29- Average retail gasoline prices in Hawaii have risen 1.5 cents per gallon in the past week, averaging $2.56/g yesterday, according to GasBuddy’s daily survey of 355 gas outlets in Hawaii. This compares with the national average that has increased 3.7 cents per gallon in the last week to $1.74/g, according to gasoline price website GasBuddy.com

Including the change in gas prices in Hawaii during the past week, prices yesterday were 49.0 cents per gallon lower than the same day one year ago and are 7.9 cents per gallon lower than a month ago. The national average has decreased 6.5 cents per gallon during the last month and stands 65.1 cents per gallon lower than this day one year ago.

According to GasBuddy historical data, gasoline prices on February 29 in Hawaii have ranged widely over the last five years:
$3.05/g in 2015, $4.06/g in 2014, $4.36/g in 2013, $4.32/g in 2012 and $3.74/g in 2011.

Areas nearby Hawaii and their current gas price climate:

  • Alaska- $2.15/g, down 1.5 cents per gallon from last week’s $2.17/g.
  • Anchorage- $2.05/g, down 2.8 cents per gallon from last week’s $2.08/g.
  • Honolulu- $2.35/g, down 1.5 cents per gallon from last week’s $2.36/g.

“We knew it was inevitable. The 8-month decline in prices at the pump that brought the national average as low as $1.67 has come to an end,” said Gregg Laskoski, senior petroleum analyst for GasBuddy. “The ‘plateau’ or pause in price movement is now behind us as we’ve had a full week in which the national average has climbed steadily. Some areas such as Southern California are weathering significantly higher increases as their refineries transition earlier from ‘winter blend’ to ‘summer blend’ production while Great Lakes states suffer from refinery run cuts. As expected, this is the beginning of the seasonal price climb and we’ll have to wait and see if last week’s rally for crude gains momentum to underscore the trend.”

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

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