Maui Gas Prices Inching Up, Again

By Sonia Isotov

DBEDT released the December 2010 Monthly Energy Trends data last week signaling a continued slow and steady inching up of gas prices for all grades.

For Maui alone, in the current month period December 2010, regular gas prices (Wailuku only) have increased 7.2% to $3.967 and diesel 4.5% to $4.311. Year-to-date December 2010, gas prices (Wailuku only) have escalated 20% for regular and 4% for diesel.

The energy cost adjustment factor for Maui alone has seen a 46.5% energy cost adjustment increase year-over-year December 2010, and a 30.3% increase month-over-month December 2010.

Every electric bill shows the energy cost adjustment as a line item fee. The Public Utilities Commission allows the electric utilities this “adjustment” to reflect the price of fuel fluctuations worldwide. The Energy Cost Adjustment reflects increases or decreases in the price of fuel from the time the Base Fuel Energy Charge was set in HECO’s last rate case.

The January 2011 Monthly Energy Trends (MET) is expected to be released on/about February 7, 2011.

These monthly reports contain data on West Texas Intermediate crude oil prices on the New York Mercantile Exchange, average monthly gasoline and diesel prices, barrels of oil imported from foreign countries, fuel consumption, vehicle registration, electricity generation, consumption, prices, and data on renewable energy used in electricity generation.