Average gas prices in Hawaii rise 10.6 cents per gallon the past week

MEDIA RELEASE

Gasoline prices in Hawaii have risen 10.6 cents per gallon in the past week, averaging $3.97/g yesterday, according to GasBuddy’s daily survey of 355 stations in Hawaii. This compares with the national average that has fallen 2.4 cents per gallon versus last week to $2.89/g, according to GasBuddy.

Average gasoline prices on June 18 in Hawaii have ranged widely over the last five years:

$3.23/g in 2017, $2.74/g in 2016, $3.35/g in 2015, $4.36/g in 2014 and $4.35/g in 2013.

Including the change locally during the past week, prices yesterday were 73.9 cents per gallon higher than a year ago and are 10.6 cents per gallon higher than a month ago. The national average has dropped 3.1 cents per gallon during the last month and stands 60.9 cents per gallon higher than a year ago.

Areas near Hawaii and their current gas price climate:

“Average gas prices in the U.S. have fallen to their lowest in a month, following oil’s continued slump as OPEC appears poised to adjust oil production levels and the U.S. nears its hitting 11 million barrels of oil pumped per day, the highest level ever,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Oil bulls may see their day again this summer, but the prospects of higher oil supply have diminished the value of oil for the time being, and that’s leading to what nearly every American has been rooting for as of late- lower gas prices. While many are still bitter over having to pay more than last year, prices certainly could have moved higher if there hadn’t been pressure on OPEC to act now that the (previous) glut of crude oil has been absorbed into the market. We see gas prices falling slightly into late June or early July before odds rise of hurricane season leading to some volatility at the pump, which could lead prices higher short term.”

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