Honolulu has endured 12 straight weeks of rising gasoline prices, but an industry expert says fuel prices may peak finally in the next two to four weeks before a possible slide back down.
The average price for a gallon of regular unleaded gas in Honolulu reached $4.28 Sunday, up 2 cents from a week ago and up 18 cents from a month ago, according to AAA’s Hawaii Weekend Gas Watch.
There were similar gains statewide, making the country’s most expensive gas even pricier. The average Hawaii price Sunday for a gallon of regular was $4.33, up 2 cents from a week ago and up 14 cents from a month ago. The state average is bracketed by a low in Hilo of $4.17 per gallon of regular and a high in Wailuku of $4.44 per gallon.
If the cost of fuel follows recent trends, prices will peak somewhere from early May to early June and then perhaps drop off 10 to 30 cents a gallon over June and July, said Patrick DeHaan, senior petroleum analyst with Gasbuddy.com.
DeHaan said the price of gas typically goes up each spring due to refinery maintenance and an annual switch to Environmental Protection Agency-required summer gas that requires more expensive ingredients.
"The price of oil has been going up," he added, "but recently that’s been all over the place."
The supply of gasoline up and down the West Coast is tight right now, and that could have an effect on availability and price in Hawaii, DeHaan said.
Indeed, some parts of California are experiencing prices higher than Honolulu right now. The average price of a gallon of regular in the Los Angeles-Long Beach area reached $4.30 following a whopping 17-cent hike over the last week.
"Gas prices are increasing throughout the U.S. as well, but at the moment the only states with average prices above $4 a gallon are Hawaii and California," said AAA Hawaii General Manager Liane Sumida.
Linda Ko, owner of Sweet Leilani Florist, said rising gas prices have hammered the bottom line of her Dillingham Boulevard shop. Sweet Leilani delivers flowers across most of the island, and last year she was forced to raise the delivery fee to $12 from $10.
"It’s tough on small businesses," Ko said. "People get so upset. They don’t realize the traffic and congestion we face when going from point A to point B."
Hawaii is one of the nation’s top markets for electric and hybrid vehicles, and Roy Price said he gains great satisfaction from missing out on the high price of gasoline by driving his Nissan Leaf, an electric vehicle he charges daily with the help of solar energy generated at his Palolo Valley home.
"Gasoline is just ridiculously expensive compared to what it used to be," Price said.
More than 240,000 Oahu residents each day also avoid pain at the pump by riding TheBus, one of the nation’s top bus systems in terms of ridership per capita.
Optometry student Daniela Minnis said she was happy not to be paying Hawaii’s gas prices.
"You betcha," she said as waited for a bus on Ala Moana Boulevard near the corner of South Street in Honolulu. The Oregon resident is attending optometry school in Honolulu for three months, so she decided not to rent a car.
"Normally, I don’t even look for the price because it’s something you just have to do," she said.
Despite the recent rising fuel costs, the islands have seen worse. The highest recorded average price of regular gasoline in Honolulu was $4.48 on May 8, 2011. The highest statewide average price was $4.61 on April 11, 2012.
In addition, prices are not quite as high as they were one year ago, when the average price of gas in Honolulu was $4.30 per gallon — 3 cents higher than today. Over the last year, the average Hawaii price of gas hit a low of $3.91 in late November before climbing to where it is today.
"Motorists should shop around, use a gentle driving style and avoid jackrabbit starts in order to maximize fuel efficiency," Sumida said.
The best deal for gas Friday on Oahu was reported at Sam’s Club membership retailer in Pearl City, according to Gasbuddy.com. The price: $4.03. The lowest price at a nonmembership station was $4.06 (cash only) at Tesoro on Farrington Highway near Leihoku Street in Waianae.
Other low prices — $4.06 — were found at Costco membership stores and Navy Exchange and Army & Air Force Exchange Service outlets open only to military.
The highest price on the island? It was $4.39 at a Chevron station on Fort Weaver Road and Papipi Road in Ewa Beach.
CLICK HERE: ENLARGE CHART
