Gas Prices up as Year Draws to a Close

Honolulu gas prices rose 4.5 cents per gallon in the past week, averaging $3.53/g Monday, according to GasBuddy’s daily survey of 214 stations. Gas prices in Honolulu are 1 cent per gallon higher than a month ago and stand 35.4 cents per gallon higher than a year ago.

According to GasBuddy price reports, the cheapest station in Honolulu was priced at $3.09/g Monday, while the most expensive was $3.70/g, a difference of 61 cents per gallon. The lowest price in the state was $3.05/g while the highest was $4.36/g, a difference of $1.31/g. The cheapest price in the entire country stood at $1.88/g, while the most expensive was $5.19/g, a difference of $3.31/g.

The national average price of gasoline rose 1.6 cents per gallon during the last week, averaging $2.57/g Monday. The national average was down 2 cents per gallon from a month ago and stands 32.3 cents per gallon higher than a year ago.

Historical gasoline prices in Honolulu and the national average going back 10 years:

• December 30, 2018: $3.18/g (U.S. Average: $2.25/g)
• December 30, 2017: $3.11/g (U.S. Average: $2.48/g)
• December 30, 2016: $2.87/g (U.S. Average: $2.33/g)
• December 30, 2015: $2.53/g (U.S. Average: $2.00/g)
• December 30, 2014: $3.38/g (U.S. Average: $2.26/g)
• December 30, 2013: $3.82/g (U.S. Average: $3.31/g)
• December 30, 2012: $3.91/g (U.S. Average: $3.29/g)
• December 30, 2011: $3.85/g (U.S. Average: $3.27/g)
• December 30, 2010: $3.54/g (U.S. Average: $3.06/g)
• December 30, 2009: $3.21/g (U.S. Average: $2.62/g)

“The streak has been broken: For seven straight weeks, we saw the national average drop, but the fun has come to an end as oil prices continue to show strength into the last days of 2019 boosting the national average this past week,” said Patrick DeHaan, head of petroleum analysis for GasBuddy.

“Prices jumped thanks to a notable, yet anticipated drop in oil inventories, sending oil to multi-month highs above $61 and gasoline prices following. However, weakness will likely return to gasoline prices in January and February as demand weakens, so perhaps all is not lost,” he continued. “As we say goodbye to 2019, here are some interesting figures from this decade: the US consumed 1.25 trillion gallons of gasoline, which is enough volume to raise Lake Superior’s level 2.3 inches, having spent $3.625 trillion on gasoline alone, and driving 31.25 trillion miles, enough for 5,208 round trips to Pluto on the consumed gasoline. With 2019 nearly behind us, many are asking what lays ahead for 2020? GasBuddy will be releasing our 2020 Fuel Outlook this week, and in it, answers to many asked questions about how bad gas prices will get over the coming 365 days.”