Crude rebounds; Hawaii gas stays high
Crude rebounds; Hawaii gas stays high
- 2004-06-10 - Pacific Business News (Honolulu)
Hawaii gas prices remain near their recent all-time highs, and have risen in the past day in Honolulu and Wailuku, AAA reports. Crude oil prices rebounded.
Average self-serve regular prices in the three Hawaii locales AAA surveys daily:
Honolulu: $2.25 2/10.
Hilo: $2.33 9/10.
Wailuku: $2.65 9/10.
These are averages. Prices can be much higher as motorists get farther away from these population centers. Kona gas costs more than Hilo gas, for example. Lanai, Molokai and Kauai, islands that AAA does not survey, routinely have more expensive gas even than Wailuku.
The July contract for New York benchmark crude, which has fallen well below $40 a barrel in recent days, climbed back to $37.54 Wednesday.
Supply and demand doesn't explain that. The U.S. Department of Energy reports crude oil reserves have risen in the latest reporting week to what would ordinarily be the psychologically important 300 million-barrel level.
But traders are psyched out by fears that terrorists will find a way to seriously disrupt world oil supplies.
So far they haven't. But saboteurs Wednesday blew up part of the pipeline that carries northern Iraqi oil west to a port on the Mediterranean coast of Turkey.
- 2004-06-10 - Pacific Business News (Honolulu)
Hawaii gas prices remain near their recent all-time highs, and have risen in the past day in Honolulu and Wailuku, AAA reports. Crude oil prices rebounded.
Average self-serve regular prices in the three Hawaii locales AAA surveys daily:
Honolulu: $2.25 2/10.
Hilo: $2.33 9/10.
Wailuku: $2.65 9/10.
These are averages. Prices can be much higher as motorists get farther away from these population centers. Kona gas costs more than Hilo gas, for example. Lanai, Molokai and Kauai, islands that AAA does not survey, routinely have more expensive gas even than Wailuku.
The July contract for New York benchmark crude, which has fallen well below $40 a barrel in recent days, climbed back to $37.54 Wednesday.
Supply and demand doesn't explain that. The U.S. Department of Energy reports crude oil reserves have risen in the latest reporting week to what would ordinarily be the psychologically important 300 million-barrel level.
But traders are psyched out by fears that terrorists will find a way to seriously disrupt world oil supplies.
So far they haven't. But saboteurs Wednesday blew up part of the pipeline that carries northern Iraqi oil west to a port on the Mediterranean coast of Turkey.
posted by DP at 2:16 PM
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