Categorized | Business, Energy

Average gas prices in Hawaii rise 2.3 cents per gallon in the past week

MEDIA RELEASE

Hawaii, HI, September 24- Gasoline prices in Hawaii have risen 2.3 cents per gallon in the past week, averaging $4.01/g yesterday, according to GasBuddy’s daily survey of 355 stations in Hawaii. This compares with the national average that has fallen 0.8 cents per gallon versus last week to $2.83/g, according to GasBuddy.

Average gasoline prices on September 24 in Hawaii have ranged widely over the last five years:
$3.36/g in 2017, $2.80/g in 2016, $2.90/g in 2015, $4.23/g in 2014 and $4.29/g in 2013.

Including the change locally during the past week, prices yesterday were 64.4 cents per gallon higher than a year ago and are 7.9 cents per gallon higher than a month ago. The national average is unchanged during the last month and stands 28.8 cents per gallon higher than a year ago.

Areas near Hawaii and their current gas price climate:
Alaska- $3.35/g, down 2.0 cents per gallon from last week’s $3.37/g.
Anchorage- $3.18/g, unchanged from last week’s $3.18/g.
Honolulu- $3.60/g, up 3.0 cents per gallon from last week’s $3.57/g.

“With a muted response from OPEC to President Trump’s exhortation via Twitter that OPEC do something to reign in high oil prices, we may see energy markets rally as concerns grow that Iran’s sanctions effective in November may pose more a challenge to global supply than anticipated,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Oil prices jumped to fresh highs last night on reaction to the chilly reception to Trump’s concern, with several oil ministers downplaying the rise in oil prices. Moving forward, with Iran’s oil essentially out of reach, gas prices may not see the typical decline we had been expecting as recently as the last two weeks as new concerns emerge about the tightrope balance some oil producing countries are hoping for- pushing supply down as global demand rises. That’s not going to be good news for motorists.”

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

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