Sep 7th, 2008
When Will We See Price Drops on Gasoline like the Continental U.S. Has?
For my Hawai’i readers, yes, I know we pay among the most expensive gas prices in the nation (typically either first or second for that dubious distinction). I cannot help but wonder, however, if we’re seeing the same reduction in gas prices that the rest of the nation is seeing.
For instance, CNNMoney.com reports that gas prices nationally are about 44 cents off of the record high of $4.114 hit on July 17, 2008. That would be a reduction of about 10.7%. Comparing that to my personal notes here, I filled up at $4.549 on July 14, a few days before the national all time high. I just passed a gas station that I typically fill up at and their advertised price for the same grade of gas that I usually use is $4.379, a difference of 17 cents. That’s just 3.7% less!
Are we getting ripped off in Hawai’i? I don’t know if I can say that, but it’s certainly discouraging to not only see how much more we’re paying, but how much slower our prices are coming down. Come on, let’s get with the rest of the country and see our prices drop too!
I also read that article. Wow you guys are still at $4.xx ouch!
[...] are linked, they’re not involved in a direct correlation. Gas prices haven’t fallen 33% (and here in Hawai’i, they’ve still fallen a lot less than they have nationwide) in that time period. While every reduction in energy prices is welcome, how much of a reduction [...]
[...] questions I hear over and over again these days, both around town and at home. Ryan asks, “When Will We See Price Drops on Gasoline like the Continental U.S. Has?” at his blog, Uncommon Cents. Such a great name for a blog with financial focus. Thanks for [...]
Hey Ryan, thank you for making a point of it! I think we are all quietly wondering when on earth we are going to see our prices come down too. Good point and one I fuss and fume over quite regularly, and I don’t even drive nearly as much as most people! Thanks for sharing with us so we can all fuss out loud!
[...] even here in the islands, gas prices are (finally) starting to come down. By no means is gas a true “bargain”, but compared to prices in July, things are [...]