Posted at 2:16 p.m., Thursday, December 27, 2007
Retail, wholesale gas price gap unchanged at 29 cents
Advertiser StaffThe gap between O'ahu's average prices for retail regular gasoline and wholesale regular gasoline remained unchanged at 29 cents a gallon during the week ended Oct. 29, the state Public Utilities Commission reported this week.
Lawmakers mandated the disclosure in hopes it will discourage unfair pricing, after the suspension of controversial gasoline price caps in May 2006.
The average retail price before taxes remained at $2.54 a gallon.
At the same time, the average wholesale price remained unchanged at $2.25.
The PUC's average wholesale price has been criticized as inaccurate and inflated because it combines different types of wholesale transactions into one price.
Under the program, oil companies must file monthly and weekly reports disclosing in some cases crude oil costs, wholesale prices, gross margins and other figures.