Categorized | Business, Energy

Average gas prices in Hawaii fall 8 cents per gallon the past week

MEDIA RELEASE

Hawaii, HI, June 5- Average retail gasoline prices in Hawaii have fallen 8.0 cents per gallon in the past week, averaging $3.19/g yesterday, according to GasBuddy’s daily survey of 355 gas outlets in Hawaii. This compares with the national average that has increased 0.9 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 47.8 cents per gallon higher than the same day one year ago and are 17.7 cents per gallon higher than a month ago. The national average has increased 1.9 cents per gallon during the last month and stands 0.5 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on June 5 in Hawaii have ranged widely over the last five years:
$2.71/g in 2016, $3.31/g in 2015, $4.35/g in 2014, $4.36/g in 2013 and $4.48/g in 2012.

Areas near Hawaii and their current gas price climate:

  • Alaska- $2.94/g, down 5.4 cents per gallon from last week’s $2.99/g.
  • Anchorage- $2.71/g, down 0.6 cents per gallon from last week’s $2.71/g.
  • Honolulu- $2.88/g, up 0.4 cents per gallon from last week’s $2.87/g.

“The first week of the summer driving season is now under our belts, and we saw little change in gas prices nationally,” said Patrick DeHaan, senior petroleum analyst for GasBuddy.com. “Prices have seen little change and as we continue to progress into the summer, we’re seeing gas prices now roughly the same as a year ago in many places. Oil markets failed to be convinced last week by OPEC’s production cuts as U.S. oil production rises to its highest level since summer 2015. This has kept the price of oil constrained and keeps the door propped open for gasoline prices to remain at historically low levels as millions of Americans take to the road.”

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

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