Gas prices dip, but remain high

Hawaii gas prices decreased slightly throughout some areas of the islands over the past week, according to the AAA Hawaii Weekend Gas Watch.

The statewide average price is $3.77 a gallon, which is the same price as last Thursday, 1 cent higher than a month ago and 69 cents more than a year ago, according to GasPrices.AAA.com.

Lihue’s average price for regular was $3.97, which is 1 cent higher than last Thursday, 5 cents higher than on this date last month and 61 cents more than a year ago.

In Honolulu, the average price for regular was $3.62, which is 1 cent lower than last Thursday, the same price on this date a month ago and 71 cents higher on this date last year.

The Hilo average price was $3.86, which is 2 cents higher than last Thursday, 4 cents more than on this date last month and 79 cents higher than on this date a year ago.

In Kahului, the average price was $4.07, which is 2 cents lower than last Thursday, 2 cents higher on this date last month and 54 cents higher than on this date a year ago. Wailuku’s average was $4.07, which is down 2 cents since last Thursday, 2 cents higher than on this date a month ago and 53 cents higher than on this date a year ago.

“When compared to last week, pump prices in the western United States are down, with Arizona (-2 cents) experiencing the biggest drop,” said Liane Sumida, AAA Hawaii general manager. “Since the Energy Administration’s recent petroleum status report ending Aug. 3, gasoline inventories in the western region grew by 200,000 barrels. They rest at 30.4 million barrels, which is nearly 4 million barrels higher than total levels at this time last year. Growing supplies should provide a cushion for price fluctuations, which could help pump prices stabilize if there are any shocks to regional supply this week.”

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