Honolulu, October 21- Average retail gasoline prices in Honolulu have fallen 1.7 cents per gallon in the past week, averaging $4.04/g yesterday, according to GasBuddy’s daily survey of 214 gas outlets in Honolulu. This compares with the national average that has fallen 0.8 cents per gallon in the last week to $3.36/g, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Honolulu during the past week, prices yesterday were 28.1 cents per gallon lower than the same day one year ago and are 13.9 cents per gallon lower than a month ago. The national average has decreased 13.7 cents per gallon during the last month and stands 31.2 cents per gallon lower than this day one year ago.
“As the cooler temperatures continue to invade the U.S., gasoline prices continue to cool off as well, with the national average declining for yet another week,” saidGasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “Oil prices were within an arms reach of dropping under $100/bbl last week, but haven’t yet crossed that line just yet. Meanwhile, gasoline prices have slowed their descent, with the national average moving just slightly lower over the last seven days. The cities that had seen average gasoline prices under $3/gal have dried up, yet eighteen states still have at least one station selling gasoline under that level. The bad news? Oil and gasoline futures may be more volatile this week as the Fed shutdown is over, and the Energy Information Administration releases data about supply and demand for the last two weeks. Should that data be surprising, it may have an impact on the direction of gasoline prices in the days ahead,” DeHaan said.
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.