Mahon About Town Nantucket BlogHere’s the gas price comparison as of 5/3/08. It’s almost time for a new fuel delivery to the island, so with crude now at $130.09, prices will go up further as early as the end of the week. A year ago, the price of gas on Nantucket averaged $3.18. We’re up 44% over that. Our prices continue to be about 25% higher than the Cape, although last spring that amount was closer to 10% higher.
Gasoline prices for regular have effectively hit $4 (just one-tenth of a cent less), and are just a few cents more than Maui. We are for the moment not the most expensive gas in the country – the highest is in Lee Vining, California at $4.19.
Our prices are about 27% higher than the Hyannis area, about average since last fall. Before that, our prices were only about 10% more.
We’re currently about 22% higher than the national average of $3.26.
The ratio of our price per gallon to the price of a barrel of crude is at 3.73%, the lowest it’s been in more then a year (when our price at the pump averaged $2.92), when I began tracking prices. This indicates to me that prices on island will likely top $4 soon.
Gas prices on Nantucket continue to be the highest in the country, an average of 11% higher than second highest Maui. Gasoline costs 25% more here than on the Cape, and 30% higher than the national average.
The Nantucket Independent did an in depth story about gasoline prices after our report at the beginning of the month about Nantucket having the highest gas prices in the country. Here it is.
Over the past month, our prices have remained the same, while the prices in the rest of the country have been moving upward. Mary Lancaster in the Indy explains why. Based on that article, gas prices are due to increase any day now when the next batch of gas is delivered. As the current highest price in the country is $3.79 and the highest price on island is $3.73, it won’t take much of a bump to put us in the dubious position of being number one again.
|
|
5/12/07 |
4/7/07 |
3/13/07 |
|
Airport |
$3.20 |
$2.95 |
$2.95 |
|
D&B |
$3.19 |
$2.94 |
$2.94 |
|
Hatch’s |
$3.15 |
$2.90 |
$2.90 |
|
On-Island |
$3.19 |
$2.92 |
$2.88 |
|
Island |
$3.18 |
$2.93 |
$2.92 |
|
|
|
|
|
|
Cape |
$3.29 |
$2.83 |
$2.79 |
|
Cape Low |
$2.69 |
$2.65 |
$2.47 |
|
Cape |
$2.99 |
$2.74 |
$2.63 |
|
Nantucket |
6% |
7% |
11% |
|
|
|
|
|
|
Maui |
$3.66 |
$3.23 |
$3.25 |
|
Maui Low |
$3.51 |
$3.16 |
$3.18 |
|
Maui |
$3.59 |
$3.20 |
$3.22 |
|
Nantucket/Maui |
89% |
92% |
91% |
|
|
|
|
|
|
Highest |
$3.95 |
$3.99 |
$3.49 |
|
Lowest |
$2.61 |
$2.35 |
$2.12 |
|
U.S. |
$2.67 |
$2.67 |
$2.54 |
|
Nantucket |
19% |
10% |
15% |
|
|
|
|
|
|
Crude |
62.37 |
$64.28 |
$59.44 |
|
Ratio |
5.10% |
4.55% |
4.91% |
| 4/7/07 | 3/13/07 | |
| Airport Gas | $2.95 | $2.95 |
| D&B Auto | $2.94 | $2.94 |
| Hatch’s | $2.90 | $2.90 |
| On-Island | $2.92 | $2.88 |
| Island Average | $2.93 | $2.92 |
| Cape High | $2.83 | $2.79 |
| Cape Low | $2.65 | $2.47 |
| Cape Average | $2.74 | $2.63 |
| Nantucket Above Cape by: | $0.07 | $0.11 |
| Maui High | $3.23 | $3.25 |
| Maui Low | $3.16 | $3.18 |
| Maui Average | $3.20 | $3.22 |
| Nantucket/Maui | $0.92 | $0.91 |
| Highest in Country | $3.99 | $3.49 |
| Lowest in Country | $2.35 | $2.12 |
| U.S. Average | $2.67 | $2.54 |
| Nantucket Above US Average by: | $0.10 | $0.15 |
| Crude Oil Futures | $64.28 | $59.44 |
| Ratio Nantucket/Crude | $0.05 | $0.05 |
Mahon About Town Nantucket Blog 