Gasoline prices up from same time last year - Hawaii News Now - KGMB and KHNL

Gasoline prices up from same time last year

Richie Aqui Richie Aqui
Mike Fishman Mike Fishman
Samantha Ngatia Samantha Ngatia
Barney Robinson Barney Robinson

By Brooks Baehr - bio | email 

HONOLULU (HawaiiNewsNow) - According to AAA the average for a gallon of gas at the pump in Hawaii is $3.46.  That's up about 6 cents from just a week ago and about 23 cents from this time last year.

Richie Aqui details, "Oh, I've definitely noticed.  I mean just to fill my tank today was $60.  Over $60.  Back in the day, the first time it went up, $50 was high, but now $60.  It's getting crazy.

Mike Fishman said, "Myself driving a taxi out here, it affects me.  I mean the more money into the tank the less money I have in my pocket."

This reporter asked Samantha Ngatia, "Have you noticed the prices are up."

Ngatia responded, "Not too much honestly.  I don't really check.  I just pump the gas.  I know that I need to drive and I know that most of the time I'm in a hurry so I just go to the nearest one."

Gas prices fluctuate for several reasons: government intervention - such as taxes, supply and demand, competition, and of course the price of crude oil, which has been going up.  At the close of business today, a barrel of crude cost $88.20.

Chevron dealer Barney Robinson stated, "In my opinion, what's causing crude oil to go up is not so much a supply and demand issue but the devaluation of the dollar.  So as we buy crude oil from the foreign countries that are still willing to sell to us, they'll still trade in dollars, but they want more dollars for it."

Whatever the reasons for the price increases, it's not good for drivers or our economy.  If the prices keep going up, they'll slow economic recovery as we head into the new year.

 

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