Gas prices on the rise in Hawaii - Hawaii News Now - KGMB and KHNL

Gas prices on the rise in Hawaii

HONOLULU (HawaiiNewsNow) - Hawaii gas prices rose again during the past week, according to the AAA Hawaii Weekend Gas Watch.

Thursday, the statewide average for regular unleaded is $4.24 a gallon, two cents more than last week.

Honolulu's average price increased by a penny to $4.13 a gallon. Honolulu's price is 16 cents more than a month ago and 84 cents higher than this time last year.

In Hilo, the average gas price is $4.35 a gallon, four cents more than last week, 22 cents more than last month and 99 cents more than this time last year.

Wailuku's average is $4.43 a gallon, four cents more than last week, eight cents more than last month and 64 cents more than on this date last year.

"The benchmark West Texas Intermediate crude oil price fell dramatically last week which helped push down mainland pump prices," according to AAA Hawaii Regional Manager Diane Peterson. "But Hawaii prices are being driven by higher-priced crude – more than $100 a barrel – derived from Southeast Asia. Hawaii refiners compete for the same oil with Japan which has been buying more to fuel power plants, post-tsunami."

Prices are being driven by global economic weakness, higher priced crude from Southeast Asia mixed with higher demand from Japan to fuel power plants, according to Peterson.

Copyright 2011 Hawaii News Now. All rights reserved.

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