Issue – Gasoline Prices to be Posted

Senator Norman Sakamoto
August 16, 2006

Our office recently received a number of inquiries about when the State would begin publishing wholesale gasoline prices and where that information could be found.1 We wrote to Carlito P. Calibosco, Chairman of the Public Utilities Commission, and received the following information from him in a letter dated August 8:

...consistent with the intent of Act 78 to increase transparency in the petroleum industry, the Commission will soon begin publishing Hawaii retail and wholesale price information on its website on a going-forward monthly basis. The information will include the wholesale gasoline price caps that the Commission calculated and published on a weekly basis from September 1, 2005 through May 5, 2006. The first of these monthly website postings is expected to be online in approximately two (2) weeks.

Based upon Mr. Calibosco's letter, the first website posting can be expected by August 22. In light of soaring gas prices and record profits by oil companies, transparency in gasoline prices is important for protecting Hawaii's consumers against the companies artificially raising gasoline prices. Hawaii's consumers deserve to be treated fairly and the posting of wholesale gasoline prices will help ensure that.

1 Act 78 became law on May 5th. It requires the Public Utilities Commission to monitor wholesale gasoline prices and disclose to the public the information. See page 30 or §486J-8 of House Bill 3115 CD1 "Relating to the Petroleum Industry," http://www.capitol.hawaii.gov/sessioncurrent/bills/hb3115_cd1_.htm