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.

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