Hawaii

Gas Prices Still Rising

The national average price for a gallon of gasoline rose for the 10th straight day on Monday to $3.842. That is now only about 6.6% below the record high of $4.114 from July 2008. The average price rose by four-tenths of a penny, according to the survey of gas stations conducted for the motorist group AAA.

Gas prices are now up more than 17% this year. The nationwide average was $3.54 a gallon a month ago and $3.76 a gallon on March 9 — the day that prices started rising again after a few days of slight declines. Gasoline averages more than $4 a gallon in seven states: Alaska, California, Connecticut, Hawaii, Illinois, New York and Washington. Gas prices are also above $4 a gallon in the District of Columbia, according to AAA. At more than $4.48 a gallon, Hawaii ranks as the nation’s high. Prices are less than a dime away from $4 a gallon in Michigan, Nevada, Oregon and Wisconsin.Wyoming has the nation’s lowest gas prices, averaging slightly above $3.43 a gallon.

Gas prices have been rising on the back of soaring oil prices, which have shot up more than 5% over the past month amid fears that tensions with Iran will lead to an all-out war that causes a disruption in oil supplies. Signs of an improving economy have also boosted oil prices, as has the stock market, which hit multi-year highs this week. Hopefully their will be some sign of relief in the future but who knows what will happen!

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