Posted at 10:39 a.m., Wednesday, October 12, 2005
State says gas cap to fall 44 cents next week
By Greg Wiles
Advertiser Staff Writer
The decline in wholesale prices should translate into pump prices averaging about $3.03 a gallon for regular on O'ahu, including 62-cents of taxes and an estimated 20-cent dealer mark up. The decline is in keeping with recent price declines on the Mainland.
Hawai'i's gas cap, which took effect Sept. 1, sets maximum wholesale prices based on prices in Los Angeles, the Gulf Coast and New York. The cap limits only wholesale rates and doesn't require gasoline station owners to raise or lower their pump prices.
Next week's rise follows a 9 cent per-gallon rise in this week's price cap.
