POSTED: 06:54 p.m. HST, Apr 25, 2011
LAST UPDATED: 05:14 a.m. HST, Apr 26, 2011
NEW YORK >> Gas pump prices continue to climb, hitting $3.87 per gallon on Tuesday, though experts say the national average should fall as Americans drive less.
Retail gasoline prices have increased for 35 straight days. They’re above $4 per gallon in California, New York, Michigan, Illinois, Connecticut, Washington D.C., Alaska and Hawaii.
The average price for a gallon of regular gas in Hawaii is $4.536, down .1 cent from Monday. However gas in Honolulu set a record at $4.436, up a half cent from Monday. For the first time in more than a week, gas prices in Wailuku did not set a record. The average price for a gallon of regular is $4.906, down .3 cents from Tuesday. The average price in Hilo was $4.551, the same as Monday.
Pump prices, which have followed oil higher this year, got another boost on Tuesday after three Texas oil refineries lost power. Oil analyst Tom Kloza says the shutdowns may have cut off 300,000 barrels of daily production.
Gasoline futures increased 3 cents to $3.3097 per gallon in morning trading on the New York Mercantile Exchange. Benchmark crude rose 5 cents to $112.23 per barrel.