Kahului gas prices climb to new record
The average price for regular unleaded gas in Kahului reached $5.64 on Thursday, seven cents higher than the record price of $5.57 set last month, according to the AAA Hawaii Weekend Gas Watch.
Kahului’s gas prices were eight cents higher than last week, 20 cents higher than last month and $1.70 higher than a year ago.
As a state, Hawaii set a new record for gas prices at $5.50, which is five cents more than last week. Lihue continued to lead the state with the highest prices at $5.83, while Hilo averaged $5.56 and Honolulu averaged $5.38.
Nationally, the average price is $4.97, up 25 cents from a week ago and also a new record.
“Analysts are projecting significant increases in oil prices over the next year as Russian oil leaves Western markets, and that is continuing to put upward pressure on gas prices,” Liane Sumida, AAA Hawaii general manager, said in a news release Thursday.