Average retail gasoline prices in Honolulu have risen 4.9 cents per gallon in the past week, averaging $4.22/g yesterday, according to GasBuddy’s daily survey of 214 gas outlets in Honolulu. This compares with the national average that has increased 11.7 cents per gallon in the last week to $3.62/g, according to gasoline price websiteGasBuddy.com.
Including the change in gas prices in Honolulu during the past week, prices yesterday were 9.7 cents per gallon higher than the same day one year ago and are 1.4 cents per gallon lower than a month ago. The national average has increased 0.4 cents per gallon during the last month and stands 19.5 cents per gallon higher than this day one year ago.
“Nationally, gasoline prices have begun moving upward yet again. I suspect that the unrest in Egypt is playing a significant role in pushing crude values higher, and thus retail gasoline prices higher as well,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “The market is seemingly quite sensitive to the situation in Egypt as the Energy Information Administration has reported two consecutive weeks of large declines in crude oil inventories, drawing concern that a loss in Middle Eastern crude would mean continued declines in inventories stateside,” DeHaan said.
GasBuddy operates HonoluluGasPrices.com and over 250 similar websites that track gasoline prices at over 140,000 gasoline stations in the United States and Canada. In addition, GasBuddy offers a free smartphone app which has been downloaded over 25 million times to help motorists find the lowest gasoline prices in their area.