Categorized | Business, Energy

Average gas prices in Hawaii fall 4.7 cents the past week

MEDIA RELEASE

Hawaii, August 8- Average retail gasoline prices in Hawaii have fallen 4.7 cents per gallon in the past week, averaging $4.12/g yesterday. This compares with the national average that has fallen 3.7 cents per gallon in the last week to $3.66/g, according to gasoline price website HawaiiGasPrices.com

Including the change in gas prices in Hawaii during the past week, prices yesterday were 64.3 cents per gallon higher than the same day one year ago and are 14.0 cents per gallon higher than a month ago. The national average has increased 4.6 cents per gallon during the last month and stands 88.6 cents per gallon higher than this day one year ago.

“We’re watching an incredible decline in the price of crude oil and gasoline futures that will most certainly have an impact in the upcoming week at the pump. While motorists won’t see large drops all at once, I most certainly expect declines in the days ahead,” says Patrick DeHaan, GasBuddy.com Senior Petroleum Analyst. “Oil prices have shed nearly $15 per barrel in just a week- a dramatic decline brought on by various concerns, but mainly a weak manufacturing report and concern surrounding a possible downgrade of U.S. credit ratings,” DeHaan adds.

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