Categorized | Business, Energy

Average has prices in Hawaii drop 2.3 cents per gallon the past week

MEDIA RELEASE

Hawaii, October 10- Average retail gasoline prices in Hawaii have fallen 2.3 cents per gallon in the past week, averaging $4.21/g yesterday. This compares with the national average that has fallen 2.1 cents per gallon in the last week to $3.42/g, according to gasoline price website HawaiiGasPrices.com.

Including the change in gas prices in Hawaii during the past week, prices yesterday were 73.0 cents per gallon higher than the same day one year ago and are 3.8 cents per gallon higher than a month ago. The national average has decreased 24.0 cents per gallon during the last month and stands 61.8 cents per gallon higher than this day one year ago.

“After oil prices briefly dropped to $75/bbl in the last two weeks, we’ve seen a mini-rally take place, driving prices up to a more recent mark of $82/bbl. The volatility we continue to see in oil prices isn’t surprising, and will likely continue as a fragile economy and some upbeat investors play the market,” said Patrick DeHaan, GasBuddy.com Senior Petroleum Analyst. “What this means for motorists is a continued roller coaster ride at the gas pump. While I don’t expect a huge of movement in either direction, these up and down fluctuations in gas prices will become the norm ahead of a volatile Spring 2012 time period,” DeHaan adds.

For a graph tracking Hawaii’s gas prices visit: www.hawaii247.com/gas

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