AAA: Gas Prices in Hawaii Are Now at an All-Time High
This week, gas prices in Hawaii have reached an all-time high.
On April 27, AAA’s stated that the average regular unleaded price for gas in the Aloha State was $4.55. In Hana on Maui Wednesday, regular cost $6.03, plus was $6.14 and super was $6.25.
Reports of rising fuel costs have made the rounds in and media. Hawaii Gov. Neil Abercrombie even about the problem in his Monday , saying “Gas prices are higher than ever.”
But have Hawaii’s fuel costs really risen above historical peaks? Things were pretty bad in the 70’s and early 80’s — does the claim still stand when you adjust prices for inflation?
The answer: Yep.
Two of the best-known gas hikes occurred in the wake of the and in 1981, when Iraq Iran.
According to the U.S. Energy Information Administration, the of “leaded regular” gas in 1973 was $0.39. In 1974, that number jumped to $0.53, a $0.14 increase. (Prior to that, in the 24 years between 1949 and 1973, gas costs increased by only $0.12.)
In today’s dollars, using the Bureau of Labor Statistic’s , that 1974 gallon of gas would cost $2.40. That’s well below $4.55.
The average cost of a gallon of gas in 1981, the Energy Information Administration was $1.31. In today’s dollars, that would be $3.22.
Depressing as it may be, gas prices really are the highest they’ve ever been.
