Updated at 2:16 p.m., Thursday, November 8, 2007
Retail, wholesale gas price gap widens to 62 cents
Advertiser Staff
The gap between O'ahu's average prices for retail regular gasoline and wholesale regular gasoline rose to 62 cents a gallon during the week ended Sept. 2, the state Public Utilities Commission reported yesterday.That was up from a gap of 48 cents a gallon the prior 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 rose 16 cents to $2.79 a gallon.
At the same time, the average wholesale price rose from $2.15 to $2.17.
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.
