Graphic by Emily Metcalf
Graphic by Emily Metcalf

The August 2011 Monthly Energy Trends Data have been released.

 

Following are highlights:

 

1.        Crude oil price at the New York Mercantile Exchange averaged $86.34 per barrel in August 2011 which was 12.6% higher compared to the same month last year.  Crude oil price was down $11.00 per barrel or 11.3% from July 2011.  Year-to-date through August, crude oil price increased 24.1% over the same period last year.

 

2.        Hawaii’s refineries imported 5.1 million barrels of foreign crude oil in June 2011, down 30.9% from 3.9 million barrels in June last year.  Year-to-date through June crude oil imports from foreign sources decreased 2.1% from the same period last year.  Propane imports totaled 53 thousand barrels in June 2011, up 17.8% compared to June

 

3.        2010.  Jet fuel foreign imports were also down 48.1% over June 2010.  Year-to-date foreign imports of jet fuel kero totaled 1.5 million barrels or a decrease of 28.2% over the same period last year.

 

4.        In August 2011, the national average price for regular gasoline was $3.619 per gallon, which represented a 32.5% increase from the same month a year ago and a decrease of 0.94% from the previous month July 2011.  Hawaii’s August 2011 price for regular gasoline averaged $4.116, which was about $0.496 or 13.7% higher than the national average for the same month.  Hawaii’s August 2011 price for regular gasoline increased $0.053 or 1.3% from July 2011.  Among the prices of regular gasoline for Honolulu, Wailuku, and Hilo, as reported by the American Automobile Association, Wailuku had the highest average price at $4.377 which  decreased 0.1% from the previous month (July 2011).  The average price of regular gasoline for Honolulu was $4.011 which increased by $0.050 or 1.3% from July 2011.  Hilo’s average price of regular gasoline was $4.151 and represented an increase of $0.098 or 2.4% from July 2011.

 

5.        The August 2011 national average price for diesel was $3.907 per gallon, which was an increase of 31.4% from the same month a year ago and a decrease of 0.7% from July 2011.  In Hawaii, the average price for diesel in August 2011 was $4.713 which was $0.806 or 20.6% higher than the national average.  In August 2011, Wailuku had the highest average price of diesel, at $4.849, among Hawaii’s market, which represented a decrease of $0.014 or 0.3% from the previous month.  The average diesel price for Hilo was $4.815, which was a decrease of $0.033 or 0.7% from July 2011.  Honolulu’s average price for diesel was $4.619 which was a decrease of $0.013 or 0.3% from the previous month.

 

6.        Hawaii’s statewide demand for gasoline, as measured by the gasoline tax base, increased 9.9% in June 2011 from the same month a year ago.  A total of 43.6 million gallons of gasoline was distributed in June 2011, of which 65.0% was distributed to the City and County of Honolulu, 13.0% to Maui County, 16.0% to Hawaii County; and 6.1% to Kauai County.  Year-to-date, the Department of Taxation data showed that fuel distributors shipped 239.8 million gallons of gasoline, representing an increase of 25.0% from the same period last year.

 

7.        Hawaii’s June 2011 demand for diesel, highway use, as measured by the diesel oil tax base, was 3.5 million gallons, representing a decrease of 28.1% compared to the same period a year ago.  Year-to-date, Hawaii’s demand for diesel, highway use, totaled 25.5 million gallons or a 1.2% decrease from the same period a year ago.

 

8.        In June 2011, data from the Department of Taxation showed aviation fuel increased 30.9% from the same month a year ago statewide.  The 20.2 million gallons of aviation fuel distributed in June 2011 were shipped to the various counties as follows:  City and County of Honolulu, 46.8%; Maui County, 28.9%; Hawaii County, 15.6%; and Kauai County, 8.7%.  Year-to-date, the amount of aviation fuel distributed totaled 113.4 million gallons or a 38.9% increase compared to the same period a year ago.

 

9.        As of August 2011, there were 955,713 registered taxable gasoline passenger vehicles in the state, 4.7% increase from the same period last year (August 2010).  There were 10,182 registered passenger hybrid vehicles, accounted for 1.04% of the total 974,904 registered passenger vehicles in August 2011, and represented an increase of 97 vehicles or 0.96% from July 2011.  There were 21,623 registered taxable diesel freight vehicles, 0.6% increase from the same period last year.  The number of hybrid freight vehicles totaled 64 in August 2011.  There were 426 registered taxable electric passenger vehicles or an increase of 163.0% from August 2010.  The number of registered taxable electric passenger vehicles increased by 69 or 19.3% from July 2011.

 

10.        Net generation was down 2.0% for the electric utilities in June 2011 when compared to June 2010.  Kauai, Oahu, Maui, Lanai, and Molokai showed decreases in net generation with Kauai having the largest decrease of 6.9% for the same month last year.  Hawaii County showed an increase of net generation of 12.1% from June 2010.  Statewide, the electric utilities generated 3.1 GWh from hydro and wind, a 103.1% increase from June 2010.  The year-to-date (January through June) overall share of the electric utilities’ total net generation from non-petroleum sources was less than 1%.  However, the electric utilities’ net generation from hydro and wind for the islands of Kauai and Hawaii were 1.8% and 3.5%, respectively, of total net generation.

 

11.        In June 2011, the electric utilities purchased 352.7 GWh from independent plants (IPPs), down 2.5% from the same month a year ago.  Kauai Island Utility Cooperative (KIUC) and Maui Electric Company (MECO) showed increases in electricity purchases from IPPs of 46.5% and 6.1%, respectively, compared to June 2010.  Hawaiian Electric Company (HECO) and Hawaii Electric Light Company (HELCO) electricity purchases were down 3.9% and 0.14% from a year ago.  Year-to-date, the electric utilities purchased 1,986.3 GWh, an increase of 2.7% in comparison to the same period last year.  For each of the electric utility companies, the year-to-date electricity purchased over the same period last year – KIUC up 25.8%, HECO up 5.0%, MECO down 18.0% and HELCO down 3.1%.

 

12.        Consumption of fuel oil for electricity generation in June 2011 totaled 633,340 barrels, down 3.7% from June 2010.  The average cost per barrel of fuel oil consumed in June 2011 was $127.27, up 45.6% from the cost paid in June 2010.  In June 2011, the average cost of fuel oil per kWh generated was $0.273, 41.6% higher than the  $0.166 per KwH in June 2010.  The year-to-date barrels of fuel oil consumed increased 3.3% and the average cost per barrel of fuel oil consumed rose 28.9%.  The year-to-date average cost of fuel oil per kWh generated was $0.198, up 23.9% over the same period last year.

 

13.        The average cost per barrel of diesel oil consumed for electricity generation in June 2011 was $146.01, up 41.4% from the average cost a year ago.  The total diesel oil consumption in June 2011 was 214,503 barrels, down 6.1% when compared to the consumption in June 2010.  The cost of diesel oil per kWh of electricity generated in June 2011 was $0.273, up 5.4% compared to the same month a year ago.  In comparison to the previous month (May), the total diesel oil consumed in June decreased 7,946 barrels or 3.6%.  Year-to-date (January through June 2011), volume of diesel oil consumption for electricity generation was up by 3.3%, while the total cost of diesel oil consumed was up 33.1% compared to the same period a year ago.  The year-to-date average cost of diesel oil per kWh generated was $0.261, an increase of 13.7% from the same period a year ago.

 

14.        Hawaiian Electric Company (HECO) and Maui Electric Company (MECO) consumed a total of 14,871 barrels of biodiesel oil in June 2011.  The average cost per barrel of biodiesel oil consumed was $159.77.  HECO reported the cost of biodiesel oil per kWh generated in June 2011 was $0.630.  The year-to-date (January to June) of biodiesel oil consumed was 54,921 barrels.  The year-to-date  average cost of a barrel of biodiesel oil was $163.96.

 

15.        In June 2011, electricity sales totaled 801.9 GWh, down 3.6% from June 2010.  Residential electricity sales decreased 2.4% from June 2010 and decreased 4.2% from May 2011.  Sales to the commercial sector decreased 4.1% from June 2010 and decreased 6.6% from May 2011.  Year-to-date electricity sales were 4,929.1 GWh, an increase of 1.4% from the same period in 2010.  Year-to-date electricity sales to the residential and commercial sectors increased 0.5% and 1.9%, respectively.

 

16.        The total net revenues earned by the electric utilities in June 2011 totaled $263.6 million reflecting an increase of 25.1% from June 2010.  For June 2011, residential and commercial revenues increased by 23.4% and 26.0%, respectively, from June 2010.  Total net revenues decreased $3.1 million or 1.2% from May 2011.  Kauai and Oahu, however, showed an increase in total net revenues of 2.6% and 0.7%, respectively, from May 2011.  Maui, Lanai, Molokai, and Hawaii island showed decreases of total net revenues of 1.8%, 0.7%, 5.7%, and 10.1%.  The 2011 year-to-date net revenues was $1.5 billion or an increase of 21.4% from the same period in 2010.  The 2011 year-to-date net revenue for the residential sector total $479.5 million  or up 18.3%, and for the commercial sector, net revenue totaled $970.5 million  or up 22.7% from the same period in 2010.

 

17.        The average Hawaii residential retail price for electricity was 35.84 cents per kWh, an increase of 26.4% from June 2010 and a 3.7% increase from May 2011.  The average commercial retail price was 31.58 cents per kWh or an increase of 31.4% from June 2010 and an increase of 5.6% from May 2011.  Year-to-date 2011 average residential retail prices increased to 32.67 cents per kWh, representing an 18.3% increase from the same period in 2010.

 

18.        The energy cost adjustment factor for electricity effective August 1, 2011 for each of the island was as follows:  Kauai (0.06930 $/kWh); Oahu (0.11719 $/kWh); Maui (0.07162 $/kWh); Lanai (0.09618 $/kWh); Molokai (0.08310 $/kWh); and Hawaii (0.10583 $/kWh).

 

To see or download the data, you can go to the following link: 

        http://hawaii.gov/dbedt/info/economic/data_reports/info/economic/data_reports/energy-trends

 

 

 

 Submitted by the Department of Business, Economic Development and Tourism.

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