Updated at 11:21 a.m., Friday, October 12, 2007
Retail-wholesale gas price gap narrows to 51 cents
Advertiser Staff
The gap between average prices for retail regular gasoline and wholesale regular gasoline fell to 51 cents a gallon on O'ahu during the week ended Aug. 5, the state Public Utilities Commission reported.That was down from a gap of 54 cents a gallon the prior week. Lawmakers mandated the disclosure in hopes it will discourage unfair pricing, after the suspension of Hawai'i's controversial gasoline price caps in May 2006.
The average pretax retail price rose to $2.82 a gallon from $2.80 a gallon during the week ended July 29. At the same time, the average wholesale price rose from $2.26 a gallon to $2.31 a gallon.
The PUC's average wholesale price has been criticized as inaccurate and inflated because it combines different types of wholesale transactions into one price.
