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Gas prices set record in Hawaii

By Star-Advertiser staff

LAST UPDATED: 7:37 a.m. HST, Apr 1, 2012

The average price in Hawaii of a gallon of regular gas, already the highest in the nation, set a record Saturday and is likely to continue rising for the next few weeks.

The AAA Hawaii Daily Fuel Gauge Report estimated Saturday that the state-wide average price of regular gas reached $4.597 a gallon, beating the old record of $4.594 set in May 2011. Theaverage price dropped by 1/10th of a cent today. The price of gas here has risen about 25 cents in the last month and is about 33 cents higher than the same time last year.

Nationally, the average price of gas is $3.925 for regular and some analysts believe it could reach a record high next month.

Analysts think pump prices will top $4 a gallon nationally within the next couple of weeks, perhaps sooner. Then they could start to fall.

Tom Kloza, chief oil analyst at Oil Price Information Service, expects the national average for gas to hit about $4.05 per gallon by mid-April. It could level off there, and some analysts think it will start to fall. But Kloza also has said that the average could go as high as $4.25 per gallon later in the month, which would top the national record of $4.11 set in 2008.

In Honolulu, the average regular gas price is about $4.47 cents a gallon and could beat the record price of about $4.48 cents a gallon in the next couple of days if prices continue rising at the same pace.

Hilo's gas prices set another record Saturday of about $4.76, but dropped by 1/10th of a cent today. Gas prices in Hilo have been setting records daily since March 22.

Wailuku's average price of about $4.77 a gallon for regular is 22 cents a gallon less than the record of $4.99 set in May 2011.

The Associated Press contributed to this story.

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