Honolulu Weekly Gas Price Update and Outlook – October 4, 2013

HONOLULU – Average retail gasoline prices in Honolulu have fallen 4.0 cents per gallon in the past week, averaging $4.14/g on September 29, according to GasBuddy’s daily survey of 214 gas outlets in Honolulu. This compares with the national average that has fallen 5.8 cents per gallon in the last week to $3.43/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Honolulu during the past week, prices yesterday were 20.0 cents per gallon lower than the same day one year ago and are 8.9 cents per gallon lower than a month ago. The national average has decreased 18.8 cents per gallon during the last month and stands 36.6 cents per gallon lower than this day one year ago.

“Gasoline prices continue to erode with twelve states that are seeing prices under $3/gallon, and more states will join in on that over the next seven days” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “While it’s generally good news that gasoline prices continue falling, many Americans don’t believe we’re likely to see national averages drop under $3/gal over the next year at the pump,” DeHaan said. GasBuddy surveyed over 10,000 motorists with two-thirds of respondents saying that the national average will remain between $3 and $4 per gallon through 2014. Perhaps in a sign of positive sentiment, just 13% of respondents said they thought that prices nationally would exceed $4/gallon, while 20% believed prices could go under $3/gallon.

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.

Comments

comments