Hawaii First in the Nation to Impose Gas Price Cap

Environment News Service, August, 2005

HONOLULU, Hawaii (ENS) — --> As U.S. crude oil soared to $68 a barrel, the Hawaii Public Utilities Commission Wednesday set the nation's first cap on the price of wholesale gasoline as part of the state legislature's effort to bring prices at the gas pump under control.

At $2.62 for a gallon on regular gas, drivers across the country are paying record prices, but Hawaiian drivers are paying the most.

A gallon of regular gas costs an average of $2.846 in the Hawaiian Islands today, according to the Oil Price Information Service.

The Public Utilities Commission said Honolulu wholesalers may not charge more than $2.1578 for a gallon of regular unleaded gasoline, or about $2.76 including taxes, in Honolulu. The commission set separate price caps for other islands.

All price caps will be adjusted weekly, by the Public Utilities Commission, which will administer the ...