Hawaii gas prices decline - Hawaii News Now - KGMB and KHNL

Hawaii gas prices decline

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

Thursday, the statewide average for regular unleaded is $4.23 a gallon, a penny less than last week.

Honolulu's average price declined by a penny to $4.12 a gallon. Honolulu's price is 12 cents more than a month ago and 85 cents higher than this time last year.

In Hilo, the average gas price is $4.30 a gallon, a nickel less than last week, eight cents more than last month and 89 cents more than this time last year.

Wailuku's average is $4.44 a gallon, one cent more than last week, nine cents more than last month and 70 cents more than on this date last year.

"According to a recent estimate from the Oil Price Information Service, U.S. motorists are spending some $1.3 billion per day on gasoline, down from the $1.51 billion mark when retail gasoline prices peaked at $3.98 per gallon in early May," said AAA Hawaii Regional Manager Diane Peterson. "This projection is still nearly $400 million per day higher than the low for 2011, when the national average was $3.07 per gallon and the Hawaii state average was $3.66 on Jan. 3."

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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