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Graphic by Emily Metcalf Crude Oil Costs:
In June 2012, crude oil price decreased both from the same month last year and from the previous month. Crude oil price at the New York Mercantile Exchange averaged $82.41 per barrel in June 2012 which was 14.4% lower compared to the same month last year. Crude oil price was down $12.31 per barrel or 13.0% from May 2012. Year-to-date (January to June), the price of crude oil was 0.1% lower compared to the same period last year.
- Refinery Processing:
According to the most recent data available, Hawaii’s refineries imported 4.0 million barrels of foreign crude oil in April 2012, up 2.1 million barrels or 113.4% from the same month last year. In April, foreign crude oil imports increased 1.5 million barrels or 57.9% from March 2012.
- Gasoline Pricing:
Compared with the same month last year, in June 2012, Hawaii’s price for regular gasoline increased although the crude oil price decreased significantly; while the national average price for regular gasoline decreased, the decrease was lower than the decrease in crude oil price. In June 2012, the national average price for regular gasoline was $3.489 per gallon, down $0.181 per gallon or 4.9% from the same month last year; and down $0.222 per gallon or 6.0% from May 2012.
In June 2012, Hawaii’s price for regular gasoline averaged $4.408, which was $0.920 per gallon or 26.4% higher than the national average for the same month.
Hawaii’s June 2012 price for regular gasoline increased $0.361 per gallon or 8.9% from the same month last year, and decreased $0.138 per gallon or 3.0% from May 2012. In June 2012, the average regular gasoline prices within the State were as follows: Kauai, $4.703; Oahu, $4.267; Wailuku, $4.820; and Hilo, $4.475.
- Diesel Fuel Pricing:
The June 2012 national average price for diesel was $3.782 per gallon which was a decrease of 4.7% from the same month a year ago and a decrease of $0.235 or 5.8% from May 2012.
In Hawaii, the average price for diesel in June 2012 was $4.846 per gallon which was $1.046 per gallon or 28.1% higher than the national average.
Hawaii’s June 2012 average price for diesel increased $0.082 per gallon or 1.7% from the same month last year, and decreased $0.128 per gallon or 2.6% from May 2012. In June 2012, the average prices per gallon for diesel among Hawaii’s market were as follows: Kauai, $5.068; Oahu, $4.755; Wailuku, $4.936; and Hilo, $4.886.
- Gasoline Consumption:
Hawaii’s statewide consumption for gasoline, as measured by the gasoline tax base, increased 4.6% in April 2012 from the same month a year ago. A total of 36.7 million gallons of gasoline was consumed in April 2012, of which 54.7% was consumed in the City and County of Honolulu, 13.0% in Maui County, 25.9% in Hawaii County; and 6.4% in Kauai County.
- Highway Diesel Fuel Consumption:
Hawaii’s April 2012 consumption for highway use diesel was about 3.4 million gallons, decreased 7.6% from the same month last year. Highway use diesel in April 2012 was mainly consumed in Honolulu (43.5%), followed by Hawaii County (32.2%), Maui County (14.8%), and Kauai County (9.4%).
- Aviation Fuel Consumption:
In April 2012, data from the Department of Taxation showed aviation fuel consumption statewide increased about 0.7 million barrels or 3.9% from the same month a year ago. The 17.6 million gallons of aviation fuel distributed in April 2012 were shipped to the various counties as follows: City and County of Honolulu, 48.4%; Maui County, 29.2%; Hawaii County, 13.1%; and Kauai County, 9.3%.
- Number of Vehicles:
As of June 2012, there were 995,414 registered taxable gasoline passenger vehicles in the state, 5.6% increase from the same period last year and an increase of 5,110 or 0.5% from May 2012.
There were 11,996 registered passenger hybrid vehicles, accounted for 1.2% of the total 1,017,300 registered passenger vehicles in June 2012, and represented an increase of 197 vehicles or 1.7% from May 2012. There were 22,114 registered taxable diesel freight vehicles, 2.9% increase from the same period last year.
The number of hybrid freight vehicles totaled 70 and the number of registered taxable electric passenger vehicles totaled 847 in June 2012.
Report submitted by the state Department of Business, Economic Development and Tourism