Categorized | Business, Energy

Average gas prices in Hawaii fall 0.7 cents per gallon the past week

MEDIA RELEASE

Hawaii, HI, October 22- Gasoline prices in Hawaii have fallen 0.7 cents per gallon in the past week, averaging $4.08/g yesterday, according to GasBuddy’s daily survey of 355 stations in Hawaii. This compares with the national average that has fallen 4.7 cents per gallon versus last week to $2.83/g, according to GasBuddy.

Average gasoline prices on October 22 in Hawaii have ranged widely over the last five years:
$3.34/g in 2017, $2.89/g in 2016, $2.90/g in 2015, $4.08/g in 2014 and $4.13/g in 2013.

Including the change locally during the past week, prices yesterday were 74.0 cents per gallon higher than a year ago and are 8.5 cents per gallon higher than a month ago. The national average has dropped 1.6 cents per gallon during the last month and stands 39.6 cents per gallon higher than a year ago.

Areas near Hawaii and their current gas price climate:
Alaska- $3.40/g, down 0.3 cents per gallon from last week’s $3.41/g.
Anchorage- $3.28/g, up 1.7 cents per gallon from last week’s $3.26/g.
Honolulu- $3.74/g, up 2.4 cents per gallon from last week’s $3.72/g.

“Much of the country continues to enjoy broad decreases in gas prices as oil prices drop to $69 per barrel. In fact, with the exception of the West Coast where an earlier natural gas pipeline shut down caused prices to up, nearly every state saw prices move lower,” said Patrick DeHaan, head of petroleum analysis at GasBuddy. “The Great Lakes has seen prices drop 30-50 cents per gallon at individual stations since the start of October, leading decliners. The fall relief that has been expected for weeks has finally arrived. Gasoline economics typically weaken shortly after summer, but we experienced somewhat of a delay due to concern over Iran sanctions and OPEC production, but seemingly the market has become more concerned with other factors, and thus far, the affect on motorists has been lower gas prices. While Great Lakes states may see prices bounce of current lows in the week ahead, much of the rest of the country will likely see additional downward movement,” DeHaan added.

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

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