MEDIA RELEASE

Hawaii, November 10- Average retail gasoline prices in Hawaii have fallen 4.1 cents per gallon in the past week, averaging $3.99/g yesterday, according to GasBuddy’s daily survey of 355 gas outlets in Hawaii. This compares with the national average that has fallen 2.6 cents per gallon in the last week to $2.94/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Hawaii during the past week, prices yesterday were 8.9 cents per gallon lower than the same day one year ago and are 16.4 cents per gallon lower than a month ago. The national average has decreased 30.6 cents per gallon during the last month and stands 26.9 cents per gallon lower than this day one year ago.

“Another week, another big decline in the national average,” said Patrick DeHaan, senior petroleum analyst with GasBuddy. “But we’re nearing the point where the decreases are likely to slow unless oil prices continue to tumble from their current levels. The national average now stands at its lowest since December 4, 2010, and likely won’t drop more than another dime unless oil prices move notable lower. Many areas across the country have now seen most of the expected gas price declines with the exception being areas of the Rockies, which may decline several more weeks at least. While the decreases are likely to wind down, motorists shouldn’t expect any big rebounds before the holidays. Nationally, prices are likely to remain under $3/gal for the holidays,” he noted.

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