House approves
gas cap delay
The full House gave preliminary approval yesterday to a proposal that would delay the start of Hawaii's unique gasoline price cap law for another year to further study its impact and make any additional changes.
House lawmakers approved the measure by a vote of 39-10 with two members absent.
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All opposition came from Republican members, who have repeatedly argued that Hawaii's high tax structure leads to an antibusiness climate that discourages competition that would bring down prices.
The bill already was approved in the Senate. The House-approved version still requires approval by the committees on Consumer Protection & Commerce and Finance, and a final vote of approval by the full chamber.
The U.S. retail price of gasoline hit an all-time high yesterday -- nearly $1.74 per gallon nationwide -- reflecting strong demand, tight supplies and the high cost of oil.
AAA reported that motorists are paying $1.738 per gallon for self-serve regular unleaded gasoline, one-tenth of a penny higher than the previous record set Aug. 30 of last year.
Hawaii gas prices have stayed within pennies of an all-time high of $2.13 on Oct. 23. The state's average price for regular is $2.11, according to AAA.
"Unstable gasoline prices make budgeting for fuel costs extremely difficult for families and businesses," AAA said in a statement.
The Orlando, Fla.-based travel agency gets its data from Oil Price Information Service of Lakewood, N.J., which collects retail price information from 60,000 locations daily.
Gasoline prices traditionally rise between March and May as refiners temporarily shut down their plants in preparation for the peak summer driving season, when special clean-burning blends of fuel are required. These shutdowns shrink supplies.
