Crude oil price averaged $94.72 per barrel in May 2012 which was 6.6% lower compared to the same month last year.
In May 2012, Hawaii’s price for regular gasoline increased although the crude oil price decreased.
Hawaii’s statewide consumption for gasoline, as measured by the gasoline tax base, decreased 23.6% in March 2012 from the same month a year ago.
Aviation fuel consumption statewide decreased 5.1 million barrels or 21.7% from the same month a year ago.
As of May 2012, there were 990,304 registered taxable gasoline passenger vehicles in the state, 5.9% increase from the same period last year.
Crude Oil Costs: In May 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 $94.72 per barrel in May 2012, which was 6.6% lower compared to the same month last year. Crude oil price was down $8.63 per barrel or 8.4% from April 2012. Year-to-date (January to May), the price of crude oil was 2.7% higher compared to the same period last year.
Refinery Processing: According to the most recent data available, Hawaii’s refineries imported 2.5 million barrels of foreign crude oil in March 2012, down 1,354,000 barrels or 34.7% from the same month last year. In March 2012, foreign crude oil imports increased 223,000 barrels or 9.6% from February 2012.
Gasoline Pricing: Compared with the same month last year, in May 2012, Hawaii’s price for regular gasoline increased although the crude oil price decreased; while the national average price for regular gasoline decreased, the decrease was lower than the decrease in crude oil price.
In May 2012, the national average price for regular gasoline was $3.711 per gallon, down $0.191 per gallon or 4.9% from the same month last year; and down $0.175 per gallon or 4.5% from April 2012. In May 2012, Hawaii’s price for regular gasoline averaged $4.547, which was $0.836 per gallon or 22.5% higher than the national average for the same month.
Hawaii’s May 2012 price for regular gasoline increased $0.170 per gallon or 3.9% from the same month last year, and decreased $0.060 per gallon or 1.3% from April 2012. In May 2012, the average regular gasoline prices within the State were as follows: Kauai, $4.797; Oahu, $4.400; Wailuku, $4.891; and Hilo, $4.686.
Diesel Fuel Pricing: The May 2012 national average price for diesel was $4.017 per gallon which was a decrease of 2.0% from the same month a year ago and a decrease of $0.120 or -2.9% from April 2012.
In Hawaii, the average price for diesel in May 2012 was $4.974 per gallon, which was $0.957 per gallon or 23.8% higher than the national average.
Hawaii’s May 2012 average price for diesel increased $0.128 per gallon or 2.6% from the same month last year, and decreased $0.023 per gallon or 0.5% from April 2012. In May 2012, the average prices per gallon for diesel among Hawaii’s market were as follows: Kauai, $5.134; Oahu, $4.819; Wailuku, $5.132; and Hilo, $5.104. Gasoline Consumption:
Hawaii’s statewide consumption for gasoline, as measured by the gasoline tax base, decreased 23.6% in March 2012 from the same month a year ago. A total of 38.0 million gallons of gasoline was consumed in March 2012, of which 54.1% was consumed in the City and County of Honolulu, 13.3% in Maui County, 26.1% in Hawaii County; and 6.6% in Kauai County.
Highway Diesel Fuel Consumption: Hawaii’s March 2012 consumption for highway use diesel was about 3.7 million gallons, decreased 38.1% from the same month last year. Highway use diesel in March 2012 was mainly consumed in Honolulu (50.5%), followed by Hawaii County (28.9%), Maui County (13.5%), and Kauai County (7.0%).
Aviation Fuel Consumption: In March 2012, data from the Department of Taxation showed aviation fuel consumption statewide decreased 5.1 million barrels or 21.7% from the same month a year ago. The 18.4 million gallons of aviation fuel distributed in March 2012 were shipped to the various counties as follows: City and County of Honolulu, 46.0%; Maui County, 30.6%; Hawaii County, 14.1%; and Kauai County, 9.3%.
Number of Vehicles: As of May 2012, there were 990,304 registered taxable gasoline passenger vehicles in the state, 5.9% increase from the same period last year and an increase of 4,890 or 0.5% from April 2012.
There were 11,799 registered passenger hybrid vehicles, accounted for 1.2% of the total 1,011,885 registered passenger vehicles in May 2012, and represented an increase of 254 vehicles or 2.2% from April 2012.
There were 22,040 registered taxable diesel freight vehicles, 2.8% increase from the same period last year. The number of hybrid freight vehicles totaled 69 and the number of registered taxable electric passenger vehicles totaled 808 in May 2012.
To see or download the data, you can go to the following link: https://hawaii.gov/dbedt/info/economic/data_reports/info/economic/data_reports/energy-trends
Submitted by the Department of Business, Economic Development & Tourism Research & Economic Ananlysis Division