Honolulu drivers paid an average price of $2.46 a gallon when fueling up Thursday, according to AAA Hawaii Weekend Gas Watch.

Thursday’s statewide average price was $2.63, 2 cents less than Jan. 14, 10 cents less than last month and 68 cents less than a year ago, according to the AAA Fuel Gauge Report. Hawaii dipped below California for the most expensive market for gas, with California drivers facing a benchmark of $2.71 a gallon.

The price at the pump in Honolulu is 4 cents less than Jan. 14’s benchmark of $2.50 a gallon. Honolulu’s average gas price is 10 cents less than last month and 69 cents less than this time last year.

Hilo prices were up 2 cents from Jan. 14 at $2.57 per gallon. The price is a penny more than last month and 71 cents less than on this date a year ago. Wailuku’s average was $3.15, the same as Jan. 14, 13 cents less than last month and 44 cents less than at this time last year.

Motorists can find current prices along their route with the free AAA Mobile app for iPhone, iPad and Android, available at AAA.com/mobile.

Loans lift Hawaii State FCU earnings

Hawaii State Federal Credit Union’s net income jumped 66.4 percent in 2015 as loan volume soared and membership increased.

The state’s second-largest credit union, which generates more loan volume than any credit union in the islands, said Thursday its membership grew 8.3 percent to 90,096 from 83,191 in 2014. Hawaii State FCU serves state, city and county employees as well as nonprofits and select businesses and their families across the state.

Hawaii State FCU had earnings of $7.49 million compared with $4.5 million in 2014, while loans rose 23.6 percent to $663 million from $536.2 million over the same period. Assets increased 4 percent to $1.41 billion from $1.35 billion.

HECO to close Ward payment office

Hawaiian Electric Co.’s payment office on Ward Avenue is set to close March 7.

HECO customers can still pay their bills in person at Western Union payment agent locations such as Foodland, Safeway, Times, Sack-N-Save, Kmart and Walgreens. Customers are required to have their bill stubs at these locations. HECO’s downtown bill payment office at 1001 Bishop St. will remain open.

Average 30-year mortgage rate falls to 3.81 percent

WASHINGTON >> Average long-term U.S. mortgage rates fell this week for a third straight week as global stock markets continued to be pounded by falling oil prices and worries over economic growth.

Mortgage buyer Freddie Mac said Thursday the average rate on a 30-year fixed-rate mortgage declined to 3.81 percent from 3.92 percent a week earlier. That was its lowest level in three months. The rate has increased from its 3.63 percent average a year ago but remains well below its historic average of 6 percent.

The average rate on 15-year fixed-rate mortgages dipped to 3.10 percent from 3.19 percent.

The continuing tumult in stock markets around the world has pushed up prices of U.S. government bonds as investors seek safety. That has depressed the yields on the bonds, which mortgage rates track.

The yield on the 10-year Treasury bond dropped to 1.98 percent Wednesday — its lowest level since October — from 2.09 percent a week earlier. The yield rose to 2.03 percent Thursday.

The benchmark yield has fallen sharply since the start of the year amid the stock market turbulence. At the end of 2015 it stood at 2.30 percent.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country at the beginning of each week.

On The Move

>> Kauai Medical Clinic has announced the following new hires to its medical staff: Dr. Peter Tran, urologist, and Dr. Sashi Andrade Braga, family medicine physician.

>> Honolulu Community Action Program Inc. has named Shari Martin program manager for its Ha Initiative: Creative STEM After-School program. She has 30 years of experience in education, including teaching, administration and curriculum development and implementation. Martin recently served as a grant curriculum developer for Kawaiaha‘o School and Ke Hula ‘o Samuel M. Kamakau Laboratory Public Charter School.

Ship Ahoy!