HONOLULU (KHON2) — Hawaii remains the second most expensive market in the nation when it comes to gas prices. One of the main perks to having a Costco membership is to get gas at a lower price, but is it really worth waiting in those long lines? Is it still the cheapest option in Hawaii?
“Most of the time if you’re filling up at Costco — 75% of the time,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
“So generally speaking the wholesale clubs are pretty good value when it comes to gasoline because a lot of the Costcos and Sam’s Clubs are trying to attract people to their store location, to buy other things aside from gasoline,” said De Haan, “and oftentimes the cost of strategy or the wholesale club strategy is to price gasoline so competitive that people will come to the store.”
People can buy groceries, go into the retail store, then get gas. It’s a different strategy than a lot of convenience stores because of the deals, so Costco and Sam’s Club can leverage that by making a little bit less money on gas, hoping that you come in to buy other items to make up that margin.
GasBuddy’s Top 10 Gas Stations & Cheap Fuel Prices in Hawaii, as of Friday, June 3
1. Safeway, 1090 Hookele, Kahului — $4.94
2. Costco, 540 Haleakala Hwy, Kahului — $4.94
3. Sam’s Club, 1131 Kuala St, Pearl City — $4.97
4. Costco, 4589 Kapolei Pkwy, Kapolei — $4.98
5. Costco, 94-1331 Ka Uka Blvd, Waipio — $4.98
6. Maui Oil, 16 Hobron Avenue, Kahului — $4.99
7. Safeway, 91-1119 Keaunui Dr, Ewa Beach — $5.01
8. Freedom, 2011 N School St, Kalihi — $5.08
9. Costco, 520 Alakawa St, Iwilei — $5.09
10. Hele, 759 S King St, Honolulu — $5.18
Click here for the most up-to-date data.
“Now, in Hawaii, you’re probably not driving quite as much as you would in the Lower 48, so it may not make as much sense, but generally speaking, if you drive 12,000 miles a year, which probably very few people do, it can become worthwhile,” said De Haan.
He added that the math does vary depending on how much you drive, what kind of vehicle you have and how much gas you’re buying, but oftentimes he has found that in many cases, the cost of joining the club can be offset significantly by the savings from gas.
SAM’S CLUB DEAL
This week, Sam’s Club announced that it’s offering its Mastercard holders the chance to earn 10% in Sam’s Cash on gas every Saturday in June when they fuel up at Sam’s Club fuel stations. Sam’s Cash can be redeemed for purchases in the Club, online or redeemed for cash at the member services desk.
This deal is only available to Sam’s Club Mastercard holders at Sam’s Club fuel stations on June 4, June 11, June 18 and June 25. Current Sam’s Club members who are not part of the Mastercard program can apply here to get this deal on fuel.
‘IT’S GOING TO BE A VERY EXPENSIVE SUMMER’
GasBuddy last month released the results of its annual summer travel survey revealing that even with record high gas prices, 58% of Americans intend to road trip this summer, but more than a third indicated that high inflation has made planning more difficult.
Over the Memorial Day holiday weekend, the state hit a new record high for both regular unleaded and diesel. Those high prices are expected to continue this summer with Independence Day quickly approaching, followed by Labor Day.
“Prices are pretty high, but you have to feel pretty good that California is still way higher than you are,” De Haan said.
As of Friday, California’s average for a gallon of gas is $6.23, and Hawaii is at about $5.42, according to GasBuddy’s survey of 214 stations in Honolulu.
“Expect the higher prices to continue this summer,” said De Haan. “A lot of it is because of the Russian invasion of Ukraine. A lot of it or some of it is because we’ve lost refining capacity over the last couple of years, but overall, I don’t have a whole lot of good news. There’s not much light at the end of the tunnel yet. It’s going to be a very expensive summer.”
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