POSTED: 5:06 a.m. HST, Apr 18, 2011
LAST UPDATED: 6:16 p.m. HST, Apr 18, 2011
The average price for a gallon of gas in Honolulu is just one penny below the all-time record price today, while Maui set a new high.
AAA Daily Fuel Gauge reports the average price for a gallon of regular unleaded gas in Honolulu is $4.38 cents a gallon, just 1 cent below the record of $4.39 cents set on July 29, 2008.
Meanwhile Wailuku topped its record gas price set last week with an average price of $4.86
Statewide, the average price for regular gas was $4.48, up 2 cents from yesterday and 6 cents higher than last week. The price is about 92 cents higher than what gas cost a year ago today.
The highest Hawaii average price for a gallon of gas was about $4.51 set on July 24, 2008.
Hilo's average price of $4.49 is still well-below its record price of $4.66 on July 28, 2008.
Gasoline pump prices climbed to a national average of $3.83 per gallon, according to AAA, Wright Express and Oil Price Information Service. A gallon of regular has increased 29.1 cents in the last month and 96.8 cents from a year ago. Pump prices are above $4 per gallon in California, New York, Illinois, Connecticut, Washington D.C., Hawaii and Alaska.
Economists are watching for signs that high fuel prices are taking a toll on the economy. Industry surveys suggest that drivers are cutting back on gasoline purchases. The combination of stagnant wages and rising food and energy costs has prompted some economists to lower their growth estimates for the economy in the first quarter by half.
The Associated Press contributed to this story.