LIHUE — Average gas prices have dipped five cents going into the weekend according to the AAA Hawaii Weekend Gas Watch, which compares gas prices throughout the state on a weekly basis.
Lihue gas prices were averaging $3.74 on Thursday, according to the entity.
Statewide, Honolulu was averaging $3.42, Hilo averaged $3.58, Kahului averaged $3.93 and Wailuku averaged $3.93.
The price decline is helped by crude oil prices pushed to their lowest levels in 2018, and Thursday’s statewide average price was $3.56 a gallon, which is five cents lower than the previous week, 32 cents lower than a month ago and 27 cents more than a year ago.
“While gas prices are declining locally and nationwide, crude inventories around the country fell by 1.2 million barrels, according to Energy Information Administration data,” said Liane Sumida, AAA Hawaii general manager.
Thursday, prices in Lihue at the Shell and Texaco stations hovered around $3.74, the Kalaheo 76 had regular unleaded for $3.57, prices were averaging $3.67 in Wailua, $3.87 in Koloa and $4.02 in Waimea.
“Gasoline stocks are now approximately 1 million barrels lower than where they were at the same time last year. The decline comes after 10 weeks of inventory growth that helped push crude prices down. However, with inventories now falling, crude prices could increase. If all this comes to pass, then motorists may see pump prices increase during the first quarter of 2019,” Sumida said.
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Jessica Else, staff writer, can be reached at 245-0452 or jelse@thegardenisland.com.
