Honolulu Weekly Gas Price Update and Outlook

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Average retail gasoline prices in Honolulu moved just 0.1 cents per gallon in the past week averaging $3.37/g today. This compares with the national average that has stayed flat moving just 0.5 cents per gallon in the last week to $2.81/g according to gasoline price website HonoluluGasPrices.com. Including the change in gas prices in Honolulu during the past week prices today are $1.02/g higher than the same day one year ago and are 5.5 cents per gallon higher than a month ago. The national average has increased 11.5 cents per gallon during the last month and stands 77.8 cents per gallon higher than this day a year ago. “Oil prices have been reluctant to move higher than the low $80/barrel range as adaquate supply and lower global demand continue to weigh on investors” said Patrick DeHaan GasBuddy.com Senior Petroleum Analyst. “The pause in oil prices has translated into retail prices that have remained virtually unchanged over the last week” DeHaan says. Don’t expect stable gasoline prices to last long though. “Prices will continue to rise in April before peaking around Memorial Day to close to $3/gallon across areas of the country as cleaner burning summer fuels are sold” according to DeHaan.

About HonoluluGasPrices.com: GasBuddy.com operates over 200 live gasoline price-tracking websites including HonoluluGasPrices.com. GasBuddy.com was named one of Time magazine’s 50 best websites and to PC World’s 100 most useful websites of 2008. ”’Patrick DeHaan is the Senior Petroleum Analyst for GasBuddy.com”’