Categorized | Business, Energy

Average gas prices in Hawaii fall 5.4 cents per gallon the past week

MEDIA RELEASE

Hawaii, HI, February 18- Gasoline prices in Hawaii have fallen 5.4 cents per gallon in the past week, averaging $3.45/g yesterday, to GasBuddy’s daily survey of 355 stations in Hawaii. This compares with the national average that has increased 3.0 cents per gallon versus last week to $2.31/g, according to GasBuddy.

Average gasoline prices on February 18 in Hawaii have ranged widely over the last five years:
$3.68/g in 2018, $3.10/g in 2017, $2.61/g in 2016, $3.01/g in 2015 and $4.04/g in 2014.

Including the change locally during the past week, prices yesterday were 22.8 cents per gallon lower than a year ago and are 2.4 cents per gallon lower than a month ago. The national average has increased 6.8 cents per gallon during the last month and stands 19.6 cents per gallon lower than a year ago.

Areas near Hawaii and their current gas price climate:
Alaska- $2.94/g, up 9.5 cents per gallon from last week’s $2.85/g.
Anchorage- $2.69/g, down 1.3 cents per gallon from last week’s $2.71/g.
Honolulu- $3.08/g, down 0.9 cents per gallon from last week’s $3.09/g.

“Gas prices have advanced to their highest level in nearly two months mainly following as oil prices move higher. Gasoline demand remains seasonally weak, but last week’s report from the Energy Information Administration showed refinery utilization plunging, meaning less gasoline is flowing out of refiners,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “In addition, bullish data and optimism on a U.S.-China trade deal helped propel markets last week, as well as turmoil in Venezuela making a strong case for an larger absence of heavy crudes the market depends on. But while gas prices are nearly guaranteed to be higher in May than today, it is looking more likely that the rise in prices this year may be more muted than we’ve seen in years past when prices launched 35-75 cents during the spring.”

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

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