Gas prices fall for 12th week, but decline not as dramatic
Advertiser Staff
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Hawai'i gasoline prices fell for a 12th consecutive week, though the amount of the decline was smaller than previous weeks.
The AAA Daily Fuel Gauge Report said statewide gasoline prices declined to an average of $2.402 a gallon for regular, or about 8 cents less than the week before.
Gasoline prices have declined from a record Hawai'i high of $4.507 set in late July as crude oil prices dropped. The price declines have slowed in recent weeks, though more declines may be expected as oil continues to fall.
Yesterday, crude oil for January delivery fell to $33.87 a barrel on the New York Mercantile Exchange, the lowest level since February 2004, Bloomberg News reported.
Even with the decline, Hawai'i remains well above the national average of $1.673 a gallon and is only one of two states where gasoline remains above the $2-a-gallon level. The other is Alaska, where the average price was $2.648.
The statewide average is down from $3.467 a year earlier.
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 Thursday. AAA does not survey Kaua'i prices.
