Categorized | Business, Energy

Average gas prices in Hawaii rise 4.5 cents per gallon the past week

MEDIA RELEASE

Hawaii, HI, January 9- Average retail gasoline prices in Hawaii have risen 4.5 cents per gallon in the past week, averaging $3.04/g yesterday, according to GasBuddy’s daily survey of 355 gas outlets in Hawaii. This compares with the national average that has increased 2.1 cents per gallon in the last week to $2.37/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Hawaii during the past week, prices yesterday were 36.0 cents per gallon higher than the same day one year ago and are 12.9 cents per gallon higher than a month ago. The national average has increased 16.2 cents per gallon during the last month and stands 39.3 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on January 9 in Hawaii have ranged widely over the last five years:
$2.68/g in 2016, $3.44/g in 2015, $3.98/g in 2014, $4.02/g in 2013 and $4.01/g in 2012.

Areas near Hawaii and their current gas price climate:

  • Alaska- $2.69/g, up 6.0 cents per gallon from last week’s $2.63/g.
  • Anchorage- $2.60/g, up 5.2 cents per gallon from last week’s $2.55/g.
  • Honolulu- $2.91/g, up 1.5 cents per gallon from last week’s $2.89/g.

“If there’s ever a time one could expect gasoline prices to flatline, this week should be one of them,” said Gregg Laskoski, senior petroleum analyst for GasBuddy.

“Given the Dept. of Energy report last week of a huge build in gasoline inventory followed by the brutal 1-2 punch from Winter Storms Helena and Iras, that brings immediate and downward pressure on fuel prices. Between the two storms they’ve brought nearly a foot of rain, mudslides and rockslides to California & Nevada; snow, sleet & freezing rain in the Pacific northwest; snow and ice storms in the Plains and upper Midwest; and winter advisories in effect from the Deep South all the way to the northeast where nearly a foot of snow brought travel to a crawl on the I-95 corridor from North Carolina to Portland, ME,” Laskoski added.

Iras is expected in the Midwest and Northeast early this week.

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

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