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GasBuddy: Prices barely budge (March 29)

MEDIA RELEASE

Average retail gasoline prices in Hawaii moved just 0.7 cents per gallon in the past week, averaging $3.50/g. This compares with the national average that has stayed flat, moving just 0.5 cents per gallon in the last week to $2.81/g, according to gasoline price Web site HawaiiGasPrices.com.

Including the change in gas prices in Hawaii during the past week, prices are $1.06/g higher than the same day one year ago and are 8.1 cents per gallon higher than a month ago. The national average has increased 11.5 cents per gallon during the last month and stands 77.8 cents per gallon higher than a year ago.

“Oil prices have been reluctant to move higher than the low $80/barrel range as adaquate supply and lower global demand continue to weigh on investors”, said Patrick DeHaan, GasBuddy.com Senior Petroleum Analyst. “The pause in oil prices has translated into retail prices that have remained virtually unchanged over the last week.”

Don’t expect stable gasoline prices to last long though. “Prices will continue to rise in April before peaking around Memorial Day to close to $3/gallon across areas of the country as cleaner burning summer fuels are sold,” DeHaan said.

GasBuddy.com operates over 200 live gasoline price-tracking Web sites, including HawaiiGasPrices.com

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