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The Honolulu Advertiser
Posted on: Saturday, January 10, 2009

Honolulu gas prices notch up a penny

Advertiser Staff

The average price of a gallon of gasoline in Honolulu rose slightly this week, breaking a string of 14 consecutive weekly declines, AAA Hawaii reported yesterday.

But the statewide average remained unchanged at $2.30 a gallon, the AAA said in its Hawaii Weekend Gas Watch.

The average price in Honolulu of $2.23 a gallon is up 1 cent from last week, but down 20 cents from a month ago and $1.13 lower than a year ago.

In Hilo, the average price is $2.44 a gallon, 7 cents higher than a week ago, but 12 cents lower than a month ago and $1.11 below what it was a year ago.

The average price in Wailuku of $2.43 a gallon is 6 cents less than last week, 45 cents lower than a month ago and $1.41 lower than last year.

"During the past week the Gaza Strip erupted in turmoil, wholesale gas prices jumped and the dollar traded stronger. These factors may have contributed to our gas price increases, but it remains to be seen if prices are going to move higher in the long term," said Richard Velazquez, AAA Hawaii regional manager.

Oil dipped below $40 a barrel yesterday as the government reported the nation's worst annual job losses since World War II. The slower economy is resulting in a severe dropoff in energy use.