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Finally some good news amidst the economic meltdown: lower gas prices. The average price of a gallon of regular gasoline in Honolulu dropped below $4 yesterday for the first time since May. While the number is reassuring, Hawaii drivers still pay $.50 more than drivers on the mainland.

Gas prices fell from an average of $4.022 per gallon Tuesday in Honolulu to $3.995 yesterday, the first time it's been lower than $4 since May 30.

The highest prices in the islands were in Wailuku at $4.518 a gallon, according to AAA.

Analysts predict the the price will continue to drop. Yesterday, the price of a barrel of crude oil fell to $88.94, for delivery in November, as the government reported a gain in crude and gasoline inventories and demand has been slowed by the global economic crisis. While the news is encouraging, Hawaii gas prices typically lag the mainland by two to three months, so don't expect a drastic price drop anytime soon.