Isle dealer to cut
price on gasoline
to 83 cents
The two-hour promotion is toBy Rob Perez
call attention to Oahu's high prices
An Oahu service-station dealer who has frequently criticized the oil industry for Hawaii's high gas prices wants to draw attention to the issue by briefly slashing his pump prices.
With the financial help of several sponsors, K&Y Chevron owner Frank Young said he plans to drop the price of his regular unleaded gas from $1.469 -- currently among the lowest on Oahu -- to 83 cents a gallon for two hours Jan. 29.
The promotion would give isle consumers, who already pay the nation's highest pump prices, a brief opportunity to buy gas at an amount similar to those found in many mainland markets. "I want people to see what it's like to buy mainland (-priced) gas," Young said.
The idea for the promotion came from radio station KHVH, whose morning talk show host Rick Hamada also has railed against Hawaii's high gas prices. KHVH, which is organizing the promotion, is at 830 on the AM dial -- hence the 83 cents a gallon.
Hamada plans to broadcast live from Young's Kakaako station during the 7 to 9 a.m. event, according to Young.
Two sponsors, Voice Stream Wireless and Progressive Insurance, have agreed to collectively kick in 56 cents for each gallon sold during the promotion, Young said. Because his wholesale price is about $1.39 a gallon including taxes for regular unleaded, that will enable him to drop the pump price to 83 cents, he said.
He also plans to drop the retail price of mid-grade and premium gas, currently $1.569 and $1.659 respectively, to his wholesale cost: $1.449 for mid-grade, $1.519 for premium. Young said he will absorb that loss.
Chevron Corp. spokesman Albert Chee Jr. said the oil company, which must approve the promotion, is reviewing it to ensure compliance with federal, state and local laws.
But Chee said Chevron is supportive of dealer efforts to promote the company's products.