HONOLULU – Average retail gasoline prices in Honolulu have fallen 2.2 cents per gallon in the past week, averaging $4.23/g yesterday, according to GasBuddy’s daily survey of 214 gas outlets in Honolulu. This compares with the national average that has increased 0.7 cents per gallon in the last week to $3.43/g, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Honolulu during the past week, prices yesterday were unchanged compared to the same day one year ago and are 7.2 cents per gallon lower than a month ago. The national average has decreased 7.1 cents per gallon during the last month and stands 16.1 cents per gallon lower than this day one year ago.
“With the summer driving season behind us, motorists can look forward to a national average for gasoline that soon resumes its decline,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “Falling demand and an impending change back to cheaper winter will begin to weigh on current gasoline prices in the next few weeks and by mid-September, much of the nation should see gasoline prices falling once again. Of course, we continue to monitor ever changing geopolitical tensions and hurricane season, but any impact from either should be limited thanks to the drop in demand and shift away from expensive summer blends of gasoline. By October, the national average will likely have declined another 5-10 cents per gallon, and by Halloween, we could see a national average lower than the $3.31/gal we saw to start 2014, 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.