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Gas prices hit a new high again

By Star-Advertsier and Associated Press

POSTED:
LAST UPDATED: 09:02 a.m. HST, Apr 08, 2012


The average price of regular, unleaded gas in Hawaii set another record today at $4.611 a gallon, largely because of a spike in the price of gas in Wailuku.

The AAA Hawaii Daily Fuel Gauge survey saw the average price of gas in Hawaii rise almost a penny from yesterday. Gas prices in Honolulu actually dipped by 1/10th of a cent and Hilo's gas price of about $4.75 a gallon was the same as Saturday. But the average price of gas in Wailuku rose almost 2 cents a gallon to about $4.84 a gallon.

In Honolulu, the average price of regular gasoline is $4.475 a gallon,  a little less than a penny below the Honolulu record price of $4.483, set on May 8, 2011. Gas prices are about 15 cents higher than last month in Honolulu and about a penny higher than last week.

Hawaii's statewide average is about 19 cents higher than last month and about a penny higher than last week.

The price of gas here is the highest in the nation, followed by Alaska at $4.37 a gallon and California, where prices average $4.27 a gallon, according to AAA.

Experts say the average price of gasoline could surpass $4 per gallon nationwide as early as this week. It's already $3.93 per gallon, a record for this time of year.

The increase nationally is due in part to seasonal changes in gasoline supply. It's the time of year refineries reduce output to repair equipment and start making a cleaner, more expensive blend of gasoline for summer.

Since 2000, pump prices have risen every year between early February and late May. The annual increase has boosted prices by 27 percent on average, according to the National Association of Convenience Stores. This year, prices have risen 14 percent, or 48 cents per gallon, since Feb. 1.

Strong global demand, heightened tensions with Iran and a smattering of supply disruptions have kept crude oil prices elevated for months. The oil used to make most of the gasoline in the U.S. has averaged $120 per barrel this year.

Distributors and gas station owners buy gasoline every day based on a price set on exchanges. Station owners then change their prices based on how much their last shipment cost, how much the next shipment is likely to cost and what their closest competitors are charging.

Even though it may not feel like it, gasoline prices do usually dip after their spring peak. Last year gasoline fell from $3.98 per gallon on May 5 to $3.55 on July 1 and finished the year at $3.28.

Also, summer gasoline blends improve fuel economy by 1 percent to 2 percent. That means drivers will at least get to go a little bit farther on that pricey tank of gas.
 







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Oye_Como_Va wrote:
Higher fuel prices! What a great incentive to push for rail or some other ineffective mode of transportation. What about the loss of jobs due to higher fuel costs indirectly affecting the bottom line of many stores and restaurants. Lunch wagons were a good idea for many displaced workers. First, they faced the "No parking" hurdle, now the higher fuel costs. Better protect your fuel tanks as those unsavory characters start puncturing gas tank to swipe fuel begin.
on April 8,2012 | 09:36AM
Highinthesierras wrote:
Barry, GAS pains are killing Hawaii - what's your answer? Got it, drive less, thanks.
on April 9,2012 | 05:56AM
Maneki_Neko wrote:
At least this article uses Brent Crude prices (~$120/bbl) as the oil reference point. On TV you get lost souls like Dicus and others yammering about West Texas Intermediate which has no relation to Hawaii prices. Anyway we are in for interesting times. America's gas usage has dropped significantly while demand from the rest of the world has risen a lot driving up prices. We are sacrificing our economy for that of emerging nations.
on April 8,2012 | 09:40AM
Highinthesierras wrote:
Also sacrificing our present on pipe dreams about alternative energy nonsense. Remember ethanol was the great hope? Turns out it costs more than we save and takes more energy to produce and deliver than we save. Look to natural gas, or we could get gas tax holiday from Barry and the old mullet dude?
on April 8,2012 | 06:32PM
Oye_Como_Va wrote:
Whoa! It seems as some of us are missing the point on the purpose for the use of ethanol. It was to support the former VP or Presidential hopeful and inventor of the "Internet", Al Gores 'chicken little' warning on global warming while promoting a fuel that just burns more gas. Think about all the money being raised saving the environment and forget about how much we have to pay for gas.
on April 9,2012 | 02:28AM
false wrote:
I hear Singapore has a requirement of a deposit of a substantial amount of money with their Government, to give their citizens the right to own a vehicle. I guess that is how they control the Population count of Cars. The Solution for Honolulu is: Well, I think the State and the City need to work together to determine the correct solution. The Rail Project is completely independent of The State. The State has some projects to improve the freeways. The Rail Project although a City project takes away precious funds that could have been spent by The State to improve the Freeways. Has this all been talked about? Sounds like many people are not in favor of the Rail. As far as higher gas prices, we all know it has to go back lower. If not, then we will be unhappy with our Political Leaders. Many things to talk about.
on April 8,2012 | 10:48AM
afjwa wrote:
This sign is, sadly, kind of funny, because I live in Palm springs CA where gas prices at some stations are running 4.69 a gallon. You are not alone in dealing with high prices; we have them here on the mainland also.
on April 8,2012 | 11:02AM
kainalu wrote:
Google "Fortune 500" profits for last year - 2011. Two of the Top-3 most profitable companies are oil corporations: Exxon at #1 and Chevron at #3. How do these corporations make so much money? Start with the pump at your local gas station. Something is seriously wrong with this picture, people. It can be summed up in one-word: deregulation - oil, banking, and business corporations allowed to operate with little to no government oversight. Deregulation is a pillar of the Republican party platform. Straight up facts, nothing more - nothing less.
on April 8,2012 | 11:07AM
false wrote:
They make the most money because they sell GASOLINE, lol.
on April 8,2012 | 12:56PM
jaluasa wrote:
Yup, Costco increased 3% every time I went to fill up. Will be $5.00 for regular at Costco by summer at that rate.
on April 8,2012 | 12:12PM
HonoluluHawaii wrote:
May not reach $5.00, because by that time Obama will tell Chevron and Exxon to stop with the nonsense and help him in his bid for a second term.
on April 8,2012 | 05:01PM
jaluasa wrote:
Probably the only thing you can blame Obama for is for a weakened dollar. Other than that, in the short term, he has no influence on gas prices.
on April 8,2012 | 08:36PM
Oye_Como_Va wrote:
Hey don't pick on the 'local boy'. He has to pay his dues to those who got him elected, just like our "King of pork" senior Senator who keeps on burning the Federal funds like there is no end to the supply since the Hawaii voters keep electing him back into office. He keeps looking out for the Sheeple of Hawaii like he did for CPB where he dropped a little request to the U.S. Treasury to take a loss on a bailout loan so his estimated $350 thousand to $700 thousand investment wouldn't go belly up. Sweet!
on April 9,2012 | 02:42AM
what wrote:
Why is the State still demanding that Ethanol be added to our gas? It costs more, gives less miles per gallon, and damages engines. Ethanol was supposed to support the sugar industry in Hawaii, but it has clearly failed. End the adding of Ethanol and give the people a break!
on April 8,2012 | 02:17PM
bobbob wrote:
Not to mention the taxes added onto gas in hawaiii is much higher than other states.
on April 8,2012 | 02:38PM
Oye_Como_Va wrote:
Hey, it takes money to ignore the potholes so your cars breakfown soon so you either buy a new one to stimulate the economy or give it up and ride the bus or rail.
on April 9,2012 | 02:45AM
HonoluluHawaii wrote:
Because the State wants our vehicles damaged so that they spend more time in the garage than on the streets.
on April 8,2012 | 04:59PM
nigelUV001 wrote:
Get a scooter. It's not a moped. It's also not a Harley or a sport bike, but I pay less then $10 a month for gas and about $10 a month for full coverage insurance. I can do around 55 mph. I wear a helmet. I can carry a six pack of soda and some groceries under the seat in the storage compartment. I can go anywhere and always find great parking. The people in their cars driving around you are, however not very considerate. You also get wet sometimes when it rains. You can of course get rain gear for cheap at any motorcycle shop. I paid $3, 800 for my scooter. It can be dangerous, but you will save money and you will have a lot of fun on your daily ride to work.
on April 8,2012 | 04:43PM
HonoluluHawaii wrote:
Tell u what though dude, u better watch ur Ps and Qs when u try to tackle the big gas guzzlers on the road, because one misstep could lead u to get trapped under a vehicle and u will meet your maker. Please visit my You Tube video "Bicycle slow moving uphill causing Traffic congestion". In it, I show that we all need show extra tenderness and patience to share the road and show Aloha, especially with a helpless biker, that has all the rights on being on a road, yet one who needs extra special care, like a very tiny baby. No one wants to be accused of being a bully, especially by a contact from a motor vehicle and a bike and/or a pedestrian.
on April 8,2012 | 04:56PM
HonoluluHawaii wrote:
The spike in Maui is gouging due to the trucks having a difficult time navigating to Hana and nearby Haleakala.
on April 8,2012 | 04:48PM
LanaUlulani wrote:
Incomes are not rising... but gas prices, food prices, and power bill prices due in part to Obama's fiscal policies.

Do your part. FIRE OBAMA = Recovery Phase. Mahalo.


on April 8,2012 | 05:53PM
false wrote:
Hawaii will provide BHO with 4 Electoral Votes, however by that time, meaning that Hawaii is in the extreme Western side of the USA, the picture may have already been focused enough that Romney may have become elected our next POTUS.
on April 8,2012 | 09:10PM
Oye_Como_Va wrote:
Wishful thinking.
on April 9,2012 | 02:49AM
HD36 wrote:
The value of the dollar is falling. Everyone is being taxed to support the government's spending. They will never be able to stop printing money without the economy collapsing. The only solution is drastic government cuts.
on April 8,2012 | 07:29PM
false wrote:
Death and Taxes are the only two that are certain in life, per Benjamin Franklin. The question is to what degree we are going to be taxed. The government took on the burden of saving certain corporations after the Financial Crisis of 2007 and 2008, and took on Enormous Debt, and of course we are talking by our Federal Government.
on April 8,2012 | 09:08PM
HD36 wrote:
In 217 days we are going to have Taxaggedon as the Bush tax cuts expire, unless something is done.
on April 8,2012 | 11:14PM
Oye_Como_Va wrote:
How about a cut in pay for poor work results?
on April 9,2012 | 02:50AM
Fred01 wrote:
Bring back the gas cap now!
on April 8,2012 | 08:27PM
false wrote:
Everyone needs a gas cap otherwise their gasoline will be ripped off by people with siphons.
on April 8,2012 | 09:06PM
Oye_Como_Va wrote:
Why siphon? Wvwe heard of a punch on the bottom of the fuel tank?
on April 9,2012 | 02:53AM
saywhatyouthink wrote:
The benefit to higher prices is less traffic.
on April 8,2012 | 10:41PM
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