Posted at 3:40 p.m., Wednesday, October 5, 2005
Wholesale gas cap to rise 9 cents next week
Advertiser Staff
The Hawai'i Public Utilities Commission announced today that the maximum wholesale price for gasoline will rise 9 cents a gallon Monday, reflecting recent increases in Mainland prices.That means pump prices are likely to close in on $3.50 a gallon for regular on O'ahu, after taxes and an estimated 20-cent dealer markup are added. The caps, which took effect Sept. 1, set maximum wholesale prices in Hawai'i based on wholesale prices in Los Angeles, the Gulf Coast and New York. During the last month prices have hovered at or near the caps, even though the law does not require oil companies to charge the maximum price.
Retailers, or gasoline stations, can still charge whatever price they want for gasoline.
Next week's rise comes on top of a 25 cent-per-gallon jump in this week's price cap.
