State's gas prices hit record high of $2.068

By Sean Hao
Advertiser Staff Writer

Gasoline prices statewide hit an all-time high of $2.068 per gallon yesterday, up 2.3 cents from Friday, according to a survey by AAA.

Self-serve regular unleaded gas in Honolulu yesterday averaged $1.965 a gallon, the auto club reported. Prices in Wailuku, Maui, stood at $2.039 and in Hilo, Hawai'i, the price was $2.156. The previous high for the state average was $2.067 set in April this year.

Nationwide, retail gasoline had its largest increase since February in the past week, rising 3.5 cents, or 2.3 percent, to $1.571 a gallon as refiners passed along higher crude oil costs, a U.S. Energy Department report showed.

The nationwide average for regular gasoline last week was the highest since $1.574 a gallon in the week ended April 21, and was up 13 percent from a year ago, department data showed. The price has risen in five of the past six weekly reports, jumping 5.7 percent since the end of June.

A Lundberg Survey released over the weekend showed that Honolulu's prices at the pump are the highest in the nation. The Lundberg Survey does not include Neighbor Islands, which would push Hawai'i prices even higher.

To help address the state's high gas prices, the Legislature last year passed a gas price-cap law due to take effect in the summer of 2004.

The Bloomberg News Service contributed to this report.