Thursday, August 25, 2005

It's official!

Gas station Unocal on Keeaumoku Street had its 92 octane gasoline at a price of just under $3.01 yesterday. Hawaii has become the first state in the U.S. to set limits on wholesale gasoline prices. The state Public Utilities Commission is setting the wholesale price ceiling for gasoline in Honolulu at just under $2.16 a gallon. But before we the drivers in Honolulu get too excited, these aren't the prices we'll end up paying at the pump. These are the price caps set for what wholesalers can charge. And they do not include taxes and gas station mark-ups, which could add on another 70 cents to the numbers you see here. The state's new gas cap law is set to take effect next week Thursday. The State Public Utilities Commission had suggested the cap could actually increase the price of gasoline.

Hawaii Gas Taxes By County:

Oahu: 52.02 cents per gallon
Maui: 52.52 cents per gallon
Kauai: 47.52 cents per gallon
Hawaii: 43.32 cents per gallon

The gas taxes include federal, state, county and environmental response taxes. The tax prices above do not include general excise taxes of 4 percent, which would be tacked along the way in two transactions to consumers. That means gas prices could cost about $3 a gallon for regular unleaded on Oahu. What do you think? Will we be paying more or less once the gas cap goes in effect?

//m.u.s.i.c V.I.D.E.O

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