MONTHLY ENERGY TREND HIGHLIGHTS OCTOBER 2018

1 MONTHLY ENERGY TREND HIGHLIGHTS . JULY 2018. Crude Oil Prices: In July 2018, the crude oil price increased from the same month last year and increased from the previous month. The crude oil price at the New York Mercantile Exchange averaged $ per barrel in July 2018 which was up $ ( ) per barrel from the same month last year. Compared to June 2018, it was an increase of $ ( ) per barrel. Refinery Processing: According to the most recent data available, Hawaii's refineries imported million barrels of foreign crude oil in May 2018. This was an increase of million barrels ( ) from the same month last year. Compared to April 2018, it was a decrease of million barrels ( ). Gasoline Prices: In July 2018, the regular gasoline price in Hawaii averaged $ per gallon , which was cents per gallon ( ) higher than the national average for the same month.

2 Hawaii's regular gasoline price in July 2018 was an increase of cents per gallon ( ) from the same month last year, and an increase of cents per gallon ( ) from June 2018. The national average price for regular gasoline in July 2018 was $ per gallon , an increase of cents per gallon ( ) from the same month last year, but a decrease of cents per gallon ( ) from June 2018. The average prices of regular gasoline within the State in July 2018 were as follows: Wailuku, $ ; Hilo, $ ; and Oahu, $ Diesel Fuel Prices: The national average price for diesel in July 2018 was $ per gallon which was an increase of cents ( ) from the same month a year ago, but a decrease of cents ( ) from June 2018. Hawaii's average price for diesel in July 2018 was $ per gallon which increased cents ( ) per gallon from the same month last year and increased cents per gallon ( ) from June 2018.

3 Hawaii's diesel price was $ per gallon ( ) higher than the national average. In July 2018, the average prices per gallon for diesel among Hawaii's market were as follows: Hilo, $ ; Wailuku, $ ; and Oahu, $ Gasoline Consumption: Hawaii's statewide consumption for gasoline in May 2018, as measured by the gasoline tax base, was million gallons, which increased million gallons ( ) from the same month a year ago. Gasoline in May 2018 was mainly consumed in Honolulu ( ), followed by Hawaii County ( ), Maui County ( ), and Kauai County ( ). Highway Diesel Fuel Consumption: Hawaii's May 2018 consumption for highway use diesel was million gallons, which decreased million gallons ( ) from the same month last year.

4 Highway use diesel in May 2018 was mainly consumed in Honolulu ( ), followed by Hawaii County ( ), Maui County ( ), and Kauai County ( ). Aviation Fuel Consumption: In May 2018, data from the Department of Taxation showed statewide aviation fuel consumption was million gallons, which increased million gallons ( ) from the same month a year ago. The aviation fuel was shipped to the various counties as follows: City and County of Honolulu ( ), Maui County ( ), Hawaii County ( ), and Kauai County ( ). Registered Taxable Vehicles: As of July 2018, there were 1,069,473 registered passenger vehicles in the state, an increase of 13,370 vehicles ( ) from the same month last year but a decrease of 1,791 vehicles ( ) from June 2018.

5 The number of passenger gasoline vehicles was 1,027,219, which was of total passenger vehicles. It represents an increase of 11,855 vehicles ( ) from the same period last year, but a decrease of 1,715 vehicles ( ) from June 2018. In July 2018, the number of passenger electric vehicles in the state was 7,497, an increase of 1,413. vehicles ( ) from the same month last year, and an increase of 148 vehicles ( ) from June 2018. The number of passenger hybrid vehicles in the state in this month was 25,016, accounting for of the total passenger vehicles. It represents an increase of from the same month last year but a decrease of from June 2018. In July 2018, there were 47,748 registered freight gasoline vehicles, a increase from the same period last year, but a decrease from June 2018.

6 The number of freight diesel vehicles in July 2018 was 24,136, a increase from the same period last year, but a decrease from June 2018. MONTHLY ENERGY TREND : State Month of Jul - 2018. Current Period Year-to-Date % Change Year % Change Year Series Unit Month Number Ago Number Ago Crude Oil Price NYMEX WTI Future Price $ per Barrel July 18 Europe Brent Spot Price $ per Barrel June 18 Gasoline and Diesel Prices Gasoline - Regular, National $ per gallon July 18 Gasoline -Mid Grade, National $ per gallon July 18 Gasoline -Premium, National $ per gallon July 18 Diesel, National $ per gallon July 18 Gasoline - Regular, State $ per gallon July 18 Gasoline -Mid Grade, State $ per gallon July 18 Gasoline -Premium, State $ per gallon July 18 Diesel.

7 State $ per gallon July 18 Fuel Surcharges Matson Navigation Company Percentage July 18 Foreign Imports Crude Oil 1000 Barrels May 18 2,097 14,314 Distillate 1000 Barrels May 18 - N/A - N/A. Jet Fuel, Kerosene 1000 Barrels May 18 680 3,012 Residual Fuel Oil 1000 Barrels May 18 - N/A - N/A. Propane 1000 Barrels May 18 56 334 Fuel Ethanol 1000 Barrels May 18 - N/A - N/A. Other Refined Petroleum Products 1000 Barrels May 18 - N/A - Liquid Fuel Tax Base Gasoline Gallons May 18 40,120,223 191,535,820 Diesel Oil (non-hwy) Gallons May 18 9,807,633 33,572,104 Diesel Oil (hwy use) Gallons May 18 4,114,105 19,905,885 LPG (off hwy) Gallons May 18 - N/A - N/A. LPG (hwy use) Gallons May 18 1,318 21,063 Small Boat (gas) Gallons May 18 145,345 634,108 Small Boat (diesel)

8 Gallons May 18 278,396 1,018,558 Aviation Fuel Gallons May 18 21,858,476 114,241,181 Other Fuel Gallons May 18 3,356,297 10,374,360 Agricultural Refund Gallons May 18 4,465 260,745 Registered Vehicles, Taxable Passenger, Electric Vehicle July 18 7,497 7,103 Passenger, Diesel Vehicle July 18 8,447 8,661 Passenger, Gasoline Vehicle July 18 1,027,219 1,025,223 Passenger, Hybrid Vehicle July 18 25,016 25,057 Passenger, Misc Fuel Vehicle July 18 1,294 1,288 Freight, Electric Vehicle July 18 11 12 Freight, Diesel Vehicle July 18 24,136 24,163 Freight, Gasoline Vehicle July 18 47,748 47,639 Freight, Hybrid Vehicle July 18 83 87 Freight, Misc Fuel Vehicle July 18 105 104 Electricity Production and Sale by Utility Companies Electricity Consumers All Sectors Consumers March 18 500,310 501,106 Residential Consumers March 18 435,968 435,700 Commercial Consumers March 18 59,803 60,862 Street Lights Consumers March 18 4,539 4,543 Electric Meters All sectors Meters March 18 499,398 499,193 Residential Meters March 18 435,970 435,709 Commercial Meters March 18 59,539 59,596 Street Lights Meters March 18 3,889 3,888 Electricity Sale (KWH sold).

9 All Sectors KWH March 18 718,827,586 2,118,921,401 Residential KWH March 18 206,806,986 609,633,222 Commercial KWH March 18 508,162,118 1,498,415,124 Street Lights KWH March 18 3,858,482 10,873,055 Net Revenue of Utility Companies All Sectors Dollars March 18 210,370,183 605,430,413 Residential Dollars March 18 67,559,226 194,916,805 Commercial Dollars March 18 141,665,905 407,347,974 Street Lights Dollars March 18 1,145,052 3,165,634 Electricity Retail Prices (Net Revenue per KWH Sold). All Sectors Cents/KWh March 18 Residential Cents/KWh March 18 Commercial Cents/KWh March 18 Street Lights Cents/KWh March 18 Electricity Production Electricity Sent to System by Electric Utility Companies KWH March 18 753,984,258 2,224,616,982 Electricity Generated at the Electric Utility Stations KWH March 18 410,695,331 1,332,889,252 - Generated by Steam KWH March 18 287,396,475 953,169,194 - Generated by Diesel KWH March 18 116,288,427 357,321,410 - Generated by Biodiesel KWH March 18 3,420,979 15,406,514 - Generated by Hydro and Wind KWH March 18 3,589,450 6,992,134 Electricity Purchased from Independent Power Plant KWH March 18 367,280,644 966,697.

10 204 Electricity Used by Electric Utility Stations KWH March 18 23,991,717 74,969,474 Fuel Oil Used by Utility Companies Barrels of Oil Consumed Barrels March 18 467,955 1,560,984 Total Cost of Oil Consumed Dollars March 18 36,837,931 117,342,226 Ave Cost/Bbl of Oil Consumed Dollars March 18 Month-end price per barrel Dollars March 18 Cost of Oil/KWH Generated Dollar/KWh March 18 Diesel Oil Used by Utility Companies Barrels of Oil Consumed Barrels March 18 191,254 589,022 Total Cost of Oil Consumed Dollars March 18 18,439,318 53,808,468 Ave Cost/Bbl of Oil Consumed Dollars March 18 Month-end price per barrel Dollars March 18 Cost of Oil/KWH Generated Dollar/KWh March 18 Biodiesel Oil Used by Utility Companies Barrels of Oil Consumed Barrels March 18 8,654 43,161 Total Cost of Oil Consumed Dollars March 18 1,096,224 6,185,258 Ave Cost/Bbl of Oil Consumed Dollars March 18 Month-end price per barrel Dollars March 18 Cost of Oil/KWH Generated Dollar/KWh March 18 Source.