Next week will mark the third consecutive week the price has fallen and comes as more refinery capacity is restored following hurricanes and as Mainland prices decline because people are cutting back driving.

The PUC cut the maximum pre-tax wholesale price for regular on Oahu to $1.920 a gallon from $2.095. The new cap goes into effect Monday.

Drivers could see pump prices at O'ahu's least-expensive stations fall to $2.70 a gallon or less next week after reaching as high as $3.59 last month. Retail prices for gasoline in Honolulu averaged $3.05 a gallon as of last night, according to the AAA's Daily Fuel Gauge report.