REPORT FROM GASBUDDY.COM– Average retail gasoline prices in Honolulu have fallen 2.8 cents per gallon in the past week, averaging $4.18/g yesterday, according to GasBuddy’s daily survey of 214 gas outlets in Honolulu. This compares with the national average that has fallen 3.4 cents per gallon in the last week to $3.34/g, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Honolulu during the past week, prices yesterday were 0.6 cents per gallon lower than the same day one year ago and are 7.5 cents per gallon lower than a month ago. The national average has decreased 8.1 cents per gallon during the last month and stands 15.0 cents per gallon lower than this day one year ago.
“As expected, fuel prices nationwide continue to decline following the expiration last week of the EPA’s ‘summer blend’ gasoline requirement,” said GasBuddy.com Senior Petroleum Analyst Gregg Laskoski. “That’s good news for consumers. We know that when gas prices rise in springtime it removes billions from the U.S. economy… Logic dictates that the reverse is true too, and that as prices fall, it puts a little money back in consumers’ pockets.”
GasBuddy operates HonoluluGasPrices.com and over 250 similar websites that track gasoline prices at over 140,000 gasoline stations in the United States and Canada. In addition, GasBuddy offers a free smartphone app which has been downloaded over 25 million times to help motorists find the lowest gasoline prices in their area.