MEDIA RELEASE

Average retail gasoline prices in Hawaii moved just 0.3 cents per gallon in the past week, averaging $3.51/g. This compares with the national average that has increased 3.0 cents per gallon in the last week to $2.86/g, according to gasoline price Web site HawaiiGasPrices.com.

Including the change in gas prices in Hawaii during the past week, prices today are $1.06/g higher than the same day one year ago and are 0.6 cents per gallon flat than a month ago. The national average has increased 7.7 cents per gallon during the last month and stands 83.2 cents per gallon higher than this day a year ago.

“Oil prices shattered through $85/barrel last week as concern over gasoline supply mounts as we enter the most fragile time of year for refining facilities”, said Patrick DeHaan, GasBuddy.com Senior Petroleum Analyst. “Last week’s refinery explosion out West remains fresh on the minds of cautious investors, who now have solidified their concerns about healthy supply ahead of the start to the summer driving season.”

DeHaan remains confident yet cautious the summer driving season won’t bring as much pain to motorists as the summer of 2008, reiterating his prediction of price averages over $3/gallon for much of the United States.

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