Gasoline prices in Hilo are up nearly 50 cents compared to last year and experts predict they will rise even more.
A gallon of regular unleaded fuel averaged $3.50 in Hilo on Friday, up from $3.08 a year ago and $3.37 a month ago, according to the AAA Fuel Gauge Report.
The statewide average was $3.48 on Friday, up from $3.11 a year ago and $3.35 a month ago. Prices in Kailua-Kona ranged between $3.67 and $3.71 on Friday, according to the gas price tracking site GasBuddy. The AAA Fuel Gauge Report doesn’t track Kailua-Kona prices.
“Oil prices have remained relatively high,” Patrick DeHaan, senior petroleum analyst at GasBuddy, said Thursday. “Overall, they have remained relatively elevated compared to where they were a year ago, so Hawaii and almost every state is seeing prices quite a bit higher.
“There may be over the next few weeks a continuation of the upward trend as refineries get underway in terms of maintenance.”
Those high prices are predicted to stick around through 2018, DeHaan said, because crude oil inventories are continuing to drop. He said prices locally will be “25 to 50 cents higher per day over last year.”
“It’s not looking great,” DeHaan said of the 2018 gas price outlook. “(Thursday’s) report from the energy administration showed another decline in crude oil inventories from the mainland, so OPEC’s tightening — which has been in place since 2017 — has taken a lot of supply off the market. And that will cause a pinch at the pump for motorists.”
Nationally, a gallon of regular unleaded fuel averaged $2.52 on Friday, compared to $2.29 a year ago and $2.54 a month ago.
Email Kirsten Johnson at kjohnson@hawaiitribune-herald.com.
As usual our local suppliers are tightening their stranglehold on our economy. They always want it both ways; when gas prices come down nationally, Hawaii prices SLOWLY come down because they tell us our oil comes from SE Asia so it’s a different type of crude and therefore a different pricing structure. But when mainland prices go up in response to OPEC then our prices go up IMMEDIATELY. The gas cap law was the best thing Hawaii consumers had to protect us. If you look at the numbers of how much Hawaii consumers would have saved over the years had the cap still been in effect you would be very angry. Thanks again Linda Lingle for taking that away, such a wonderful legacy you left us.
Not.
Oil prices are in fact increasing due to OPEC conspiring with Russia to limit production and drive prices up to fund wars. High oil prices are in fact moving consumers more toward better, clean renewable resources as we have seen Hawaii move toward solar.
If you chose solar you end up getting ripped off by Solar City , Sun Run or one of the local contractors. Their profits on those systems are outrageous.
I would not disagree but the future is in fact clean, safe and renewable energy from a variety of sources. In fact energy will be produced on site on demand and the grid no longer be needed.
It took 20 years to get the gas cap. Then 2 weeks to get rid of it. It had a lot more to do with than just Lingle. It’s called the big boys losing money.
And don’t forget your loving mayor has also raised the gas tax 20 cents. A mayor that feels his people should never pay below three dollars for a gallon of gas ever again. Bringing trust back to the government??? Lying crook. and now our mayor feels were not paying enough for FOOD and MEDICINE and land taxes. Whos this Korean man that says he would be a good mayor for the people of HAWAII. I don’t see him. Do you?