WAILUKU — The average price of regular gasoline on Maui island Thursday reached a record $4 a gallon.
Wailuku is the first area in the nation tracked by AAA’s Daily Fuel Gauge Report to hit the $4 mark. In the remote coastal town of Hana, the price was around $4.55 a gallon. Prices for regular are also above $4 on Molokai and Lanai.
Maui’s average is up about half a cent from Wednesday, 5.7 cents from a month ago and about 74 cents from a year ago.
The state’s average stood at $3.674, about a penny shy of the record high set in September 2005.
Rates on 30-year mortgages holding
WASHINGTON — Rates on 30-year mortgages were unchanged this week, remaining at the highest level since mid-March.
Freddie Mac, the mortgage company, reported Thursday that 30-year fixed-rate mortgages averaged 5.88 percent this week, unchanged from last week.
The rate was the highest since 30-year rates stood at 6.13 percent the week of March 16. Since that time, rates have been below the 6 percent level for four straight weeks.
Retailers reporting sluggish March sales
NEW YORK — With little money left after buying food and fuel, American shoppers handed most retailers their most dismal March in 13 years.
As retailers reported sales results Thursday, Wal-Mart Stores Inc. and Costco Wholesale Corp. were among the few winners, as shoppers stuck to basics. Wal-Mart raised its earnings outlook, noting that better inventory control helped to limit markdowns on merchandise. It also said that April sales should top prior expectations.