Highlights for March 2013’s Monthly Energy Trends from DBEDT
· Crude Oil Costs:In March 2013, crude oil price decreased both from the same month last year and from the previous month. Crude oil price at the New York Mercantile Exchange averaged $92.72 per barrel in March 2013 which was $13.48 per barrel or 12.7% lower compared to the same month last year. Crude oil price was down $2.74 per barrel or 2.9% from February 2013. · Refinery Processing:
According to the most recent data available, Hawaii’s refineries imported 4.0 million barrels of foreign crude oil in January 2013, down 0.522 million barrels or 11.6% from the same month of 2012. In January 2013, foreign crude oil imports increased 1.292 million barrels or 47.8% from December 2012.
· Gasoline Pricing:
Compared with the same month last year, in March 2013, Hawaii’s price for regular gasoline decreased only 1.8%, although the price of crude oil decreased 12.7%. In March 2013, the national average price for regular gasoline was $3.694 per gallon, down $0.142 per gallon or 3.7% from the same month last year; and up $0.034 per gallon or 0.9% from February 2013.
In March 2013, Hawaii’s price for regular gasoline averaged $4.394 per gallon, which was $0.701 per gallon or 19.0% higher than the national average for the same month.
Hawaii’s March 2013 price for regular gasoline decreased $0.079 or 1.8% per gallon from the same month last year, and increased $0.128 per gallon or 3.0% from February 2013. In March 2013, the average regular gasoline prices within the State were as follows: Kauai, $4.713; Oahu, $4.317; Wailuku, $4.550; and Hilo, $4.363.
· Diesel Fuel Pricing:
The March 2013 national average price for diesel was $4.067 per gallon which was a decrease of 1.4% from the same month a year ago and an increase of 0.3% from February 2013.
In Hawaii, the average price for diesel in March 2013 was $4.942 per gallon which was $0.875 per gallon or 21.5% higher than the national average.
Hawaii’s March 2013 average price for diesel decreased $0.020 per gallon or 0.4% from the same month last year, and increased $0.016 per gallon or 0.3% from February 2013. In March 2013, the average prices per gallon for diesel among Hawaii’s market were as follows: Kauai, $5.017; Oahu, $4.790; Wailuku, $4.864; and Hilo, $4.992.
· Gasoline Consumption:
Hawaii’s statewide consumption for gasoline, as measured by the gasoline tax base, increased 3.8% in January 2013 from the same month a year ago. A total of 37.5 million gallons of gasoline was consumed in January 2013. Gasoline in January 2013 was mainly consumed in Honolulu (63.0%), followed by Hawaii County (16.7%), Maui County (14.0%), and Kauai County (6.2%).
Highway Diesel Fuel Consumption:
Hawaii’s January 2012 consumption for highway use diesel was about 4.3 million gallons, increased 15.0% from the same month last year. Highway use diesel in January 2013 was mainly consumed in Honolulu (61.7%), followed by Hawaii County (20.9%), Maui County (11.6%), and Kauai County (5.8%).
· Aviation Fuel Consumption:
In January 2013, data from the Department of Taxation showed aviation fuel consumption statewide decreased about 0.282 million barrels or 1.6% from the same month a year ago. The 17.8 million gallons of aviation fuel distributed in January 2013 were shipped to the various counties as follows: City and County of Honolulu, 42.3%; Maui County, 32.3%; Hawaii County, 14.6%; and Kauai County, 10.8%.
· Number of Vehicles:
As of March 2013, there were 1,052,746 registered taxable gasoline passenger vehicles in the state, 7.3% increase from the same period last year and an increase of 7,661 or 0.7% from February 2013.
There were 14,550 registered passenger hybrid vehicles, accounting for 1.3% of the total 1,078,067 registered passenger vehicles in March 2013, and representing an increase of 304 vehicles or 2.1% from February 2013. There were 22,838 registered taxable diesel freight vehicles, 4.3% increase from the same period last year.
In March 2013, the number of hybrid freight vehicles totaled 75 and the number of registered taxable electric passenger vehicles totaled 1,287. The number of registered taxable electric passenger vehicles increased 560 vehicles or 77.0% from the same month last year and increased 30 vehicles or 2.4% from February 2013.