Gas Prices to Drop Next Week?

Many experts think gas prices should go down next week, as the worst appears to be over. Lower gas prices can’t come soon enough for most, especially Hawaii drivers, as gas prices have been settings records for over four-months now. Next week could bring some relief though, as prices are finally expected to drop some heading into summer.

Prices at the pump have dropped 6 cents over two weeks to a national average on Friday of $3.88. Experts say gasoline could fall another nickel or more next week.

It’s nice, much more manageable,” said Mark Timko, who paid less than $4 per gallon Wednesday in the Chicago suburb of Burr Ridge, Ill., for the first time since March. “I wasn’t sure how high they were going to go this year.”

In Hawaii, where drivers pay the highest prices in the nation, gas prices appear to have leveled off after hitting an all-time high on April 11 of $4.618 a gallon, according to the AAA Daily Fuel Gauge Report. Today’s statewide average of $4.615 is the same as Friday and roughly the same as last week.

The highest gas prices are in Hilo at $4.757 a gallon, 1/10th of a cent below the record set on March 31 and within a penny of last week’s price.

Honolulu’s gas prices have remained steady for the last two weeks. Today’s price of $4.476 is the same as last week and 1/10th of a cent higher than Friday. Wailuku’s prices for regular gas, at $4.891 a gallon, is about two cents higher than last week.

As you can see, Hawaii drivers have been taking the brunt of high gas prices, even though the entire nation has suffered some this time around.

Lower prices at the pump will be a welcomed site, especially after suffering through the highest prices in history over the last four months.

Next week we should see a drop in prices, and hopefully more drops in gas prices over the weeks to comes. Anything under the $4.00 mark in Hawaii would be welcomed.