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Politics : Politics for Pros- moderated

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From: LindyBill	9/5/2005 9:43:40 PM
	Read Replies (2) of 793625

Gasoline could retail for $3.16 a gallon today By Sean Hao Advertiser Staff Writer Hawai'i drivers could wake up to significantly higher pump prices today as the state's experiment with gasoline price controls enters its second week. Under the law, which caps wholesale but not retail prices, wholesalers will be allowed to raise the price of regular gasoline statewide by about 28 cents from yesterday's level. That means that in Honolulu the wholesale price cap for regular rises from $2.76 a gallon to $3.04 a gallon, including taxes, today. At the retail level, prices could rise from about $2.88 a gallon to $3.16 a gallon, if wholesalers charge the maximum allowed by law and dealers maintain an estimated 12 cent per gallon margin. The caps don't require wholesalers to price at the maximum allowed, but economists and oil industry analysts said it is likely they will to offset times when they are forced to lower prices. "The government is giving the oil companies the green light" to charge the maximum, which is moving higher each week, said David Hackett, president of oil industry consultant Stillwater Associates. Stillwater produced a report critical of gasoline price caps.

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