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The Honolulu Advertiser
Posted on: Monday, July 13, 2009

BUSINESS BRIEFS
U.S. gas prices ease; Honolulu tops nation


Advertiser News Services

Hawaii news photo - The Honolulu Advertiser

Nakheel, the cash-strapped Dubai owner of the QE2, is turning the ocean liner into a floating hotel.

Associated Press file photo

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CAMARILLO, Calif. — The national average price of gasoline fell about 10 cents a gallon during the past two weeks to $2.56, according to the Lundberg Survey of fuel prices released yesterday. Analyst Trilby Lundberg says it's the first significant price drop since early December.

The average price for a gallon of midgrade is now $2.69. Honolulu has the highest prices, with an average of $3.20 a gallon for regular. Wichita, Kan., has the lowest average price at $2.26.

SETTLEMENT MAY RESOLVE SWISS BANK CASE

WASHINGTON — The U.S. government said yesterday it is trying to settle its demand that Switzerland's largest bank turn over information about thousands of Americans suspected of using secret Swiss accounts to evade taxes.

Stepping back from a legal and diplomatic showdown, the U.S. government joined the Swiss government and Swiss banking giant UBS in asking a federal court to postpone a hearing scheduled for today so they can continue settlement talks. UBS earlier this year admitted it schemed to defraud the U.S. government by helping American clients hide money from the IRS.