Business

Gas Prices on the Rise in 2017

January 3, 2017, 9:12 AM HST
* Updated January 3, 9:15 AM
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Chevron Dec. 2015. Photo: Jamilia Epping

Average retail gasoline prices in Honolulu have risen 4.7 cents per gallon in the past week, starting the new year at $2.89 per gallon (average), according to GasBuddy’s daily survey of 214 gas outlets in Honolulu.

This compares with the national average that has increased 5.6 cents per gallon in the last week to $2.34 per gallon, according to GasBuddy.com.

Prices on Sunday, Jan. 1, were 37.3 cents per gallon higher than the same day one year ago and are 18.3 cents per gallon higher than a month ago.

The national average has during the last month and stands 35.4 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on Jan. 3 in Honolulu have ranged widely over the last five years: $2.52 in 2016, $3.36 in 2015, $3.84 in 2014, $3.93 in 2013 and $3.87 in 2012.

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Areas near Honolulu and their current gas price climate:
Hawai‘i- $2.99/g, up 3.4 cents per gallon from last week’s $2.96
Oakland- $2.75/g, up 4.0 cents per gallon from last week’s $2.71
San Francisco- $2.89/g, up 3.1 cents per gallon from last week’s $2.86

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“In 2016, motorists spent an average $2.13 per gallon on gasoline, the cheapest yearly average since 2004, and 28 cents lower than 2015, but if motorists made a resolution to pay less in 2017, they either broke it already or aren’t planning on driving for a while,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “While nearly 100,000 gas stations in the country were selling for $1.99 per gallon a year ago, fewer than 3,000 are today. Though we may see rising gas prices take a brief break in early February, we’re unlikely to come anywhere close to last year’s low levels.”

“Overall, the national average price of gas stands 35 cents higher than where it was a year ago on this day and the gap is likely to continue widening,”DeHaan added. “For the upcoming year, it’s not a rosy picture at the pump: GasBuddy’s 2017 Fuel Outlook, being released tomorrow, will detail when motorists will be seeing the highest prices of the year and how many more billions we’ll spend at the pump in the year ahead.”

GasBuddy Yearly National Averages per Gallon
2016: $2.13
2015: $2.40
2014: $3.34
2013: $3.49
2012: $3.61
2011: $3.51
2010: $2.77
2009: $2.33
2008: $3.23
2007: $2.79
2006: $2.55
2005: $2.25
2004: $1.83

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For LIVE fuel price averages, visit http://FuelInsights.GasBuddy.com.

For more information, visit www.gasbuddy.com.

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