Hilo, Kona Gas Prices Keep Within Trends
After brief jumps in Hilo fuel prices last week, fuel averages saw a small decline on Monday.
Kailua-Kona’s average fuel prices went flat this week with flat numbers for most grades and a slight increase in mid-grade fuel.
Using numbers from AAA’s Fuel Gauge Report, along with Gas Buddy Data, Big Island Now continues to track fuel prices on the Big Island.
On Monday, the regular fuel price average in Hilo was down two cents at an average of $2.55. Mid-grade fuel was averaging $2.62, which is five cents less than last week’s average. Premium fuel also saw a slight decrease, down a nickel to $2.75.
One month ago, regular fuel in Hilo held the same average it current does, whereas mid-grade and premium fuel were both down from their current averages at two cents and one cent, respectively.
Average fuel prices compared to the same week in February 2015 remain lower in average across the board. At this point last year, regular fuel in Hilo cost $0.54 more at an average of $3.09. Mid-grade fuel cost an average of $0.47 more at $3.19. Premium gas cost $0.55 more on average last year at $3.30. The fuel average drops on a per-year basis have fallen from an average of about one dollar over the past month.
Fuel in Kona saw some brief peaks this week. Big Island Now’s calculation of Gas Buddy data from Kailua-Kona shows that regular fuel has held onto its month-long average of $2.79. Mid-grade fuel saw a one-cent increase after holding onto a two-week average of $2.89. Premium fuel was averaging $2.98 on Monday, not seeing any average drops over the past two weeks.
In Honolulu, the average price of regular fuel was 10 cents lower than in Hilo and was $0.36 lower than in Kona. Honolulu fuel purchasers were paying an average of $2.45 on Monday, the same average as last week.
Diesel fuel in Hilo is averaging $4.11, one cent lower than last week’s average. Honolulu diesel buyers were paying an average of $4.24, a four-cent decrease.
The national average for regular fuel on Monday was $1.79, a drop of three cents over the past week and a dime in the past two weeks. In addition, the national average is $0.66 cents less than Hilo’s average this week and $1.00 less than Kailua-Kona’s average prices.
“February looks to start the month with gasoline prices averaging under $1.80/gallon nationally, the lowest level since January 16, 2009,” said Patrick DeHaan, GasBuddy.com senior petroleum analyst. “Crude oil prices have rebounded back above $30 per barrel in the last two weeks and with more talk of an organized cut in oil output between some of the world’s largest producers, there may be more upside potential in the future, should those talks pan out.
“For now, due to a lag time from rising oil prices, gasoline prices in many areas may continue to drift lower, but don’t be caught by surprise if in a few weeks they revert and move higher. Refiners have already begun some winter maintenance, and while supply of winter gasoline is abnormally high, once that inventory is liquidated, I fully expect gasoline prices to march higher.”
Club member-only prices, such as Costco and HFN, are excluded from this analysis and its averages.