Honolulu gas prices rise for first time in 15 weeks
Advertiser Staff
The average price for a gallon of gasoline in Honolulu rose slightly this week, breaking a string of 14 consecutive weekly declines, AAA Hawaii reported today.
However, the statewide average remained unchanged at $2.30 a gallon, the AAA reported in its Hawaii Weekend Gas Watch.
The average price for a gallon of regular rose to $2.362 here, or 4 cents lower than a week earlier.
The average price in Honolulu of $2.23 a gallon is up one 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 prices dipped below $40 per barrel today for the first time this year as the government reported the nation's worst annual job losses since World War II.
People are traveling less, manufacturers are slashing production and there are job cuts across almost every sector of the economy, leading to a severe drop-off in energy use.