Posted at 12:13 p.m., Wednesday, November 16, 2005
Wholesale gas cap to fall 8.4 cents next week, PUC says
Advertiser Staff
The state's wholesale gasoline cap will tumble 8.4 cents next week, Hawai'i Public Utilities Commission announced today.The agency lowered the cap to $1.768 for a gallon of regular on O'ahu from $1.8522. The new price ceiling will go into effect next Monday.
The cap is declining for a sixth consecutive week, reflecting lower wholesale prices on the Mainland. The cap only regulates prices charged by wholesalers and distributors and doesn't limit what service stations can charge at the pump.
Retail prices generally have followed the wholesale changes and could fall below $2.50 a gallon at Honolulu's lowest priced stations such as Costco.
The new wholesale price limit for other areas in the state includes:
- $1.909 for Kaua'i
- $1.907 for Maui, excluding Hana
- $2.015 for Moloka'i
- $2.106 for Lana'i
- $1.916 for Hilo
- $1.935 for Kona
Hawai'i's gas and diesel prices are the highest in the nation. The average price for a gallon of regular was $2.773 on Tuesday, according to the American Automobile Association. The national average was $2.276.
