Hawaii's average gas price dips another 6 cents to $2.34
Advertiser Staff
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Hawai'i gasoline prices edged lower as the cost to fill up declined for the 13th consecutive week.
While prices continued to fall, the descent narrowed compared to prior weeks, AAA Hawaii reported. As of Saturday, the average price for a gallon of regular was $2.348 here, 6 cents lower than a week earlier.
The decline contrasts with a rise in the price nationally, though Hawai'i continues to sport the second-highest state-wide average price, trailing only Alaska's $2.533.
Prices have fallen as crude oil prices have dropped from record highs during the summer, though prices are starting to rise again as OPEC seeks to curb supply.
"Local prices have continued dropping despite the fact that Mainland prices increased again this past week by more than 6 cents a gallon," said Richard Velazquez, AAA Hawaii regional manager, in a press statement.
The national average of $1.630 a gallon is about 45 percent lower than it was a year earlier. Hawai'i's average is down 32 percent from a year ago.
The AAA also reported that:
The price report is collected from fleet vehicle credit-card transactions and represents the combined averages of the last card swipe of Friday.
AAA does not survey Kaua'i prices.
Crude oil for February delivery rose Friday on the New York Mercantile Exchange to $37.71, Bloomberg News reported.
Some analysts are projecting oil prices may fall again, though, because of faltering demand. Bloomberg said 13 of 28 analysts it surveyed expect prices to decline in the coming week.
