Hawaii caps (gasoline) wholesale costs to stave off hikes

[steve2470]

http://www.signonsandiego.com/news/nation/20050825-9999-1n25gasoline.html

Oil prices surged to a new high yesterday as the first flicker of a political revolt against high gasoline prices erupted in Hawaii.

Crude oil for October delivery settled at $67.32, an increase of $1.61 on the New York Mercantile Exchange, topping the previous closing high of $66.86, set Aug. 12.


Traders were worried about a storm that could hit production sites in the Gulf of Mexico and about a U.S. government report that showed a decline in the nation's gasoline supply.

Analysts said the soaring crude costs are likely to push the nation's gasoline prices higher in coming weeks.


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[steve2470]

1. one last quote that explains the story better

But in Hawaii, state officials used powers created under a recent law to cap wholesale gasoline prices. The state's Public Utilities Commission said that, beginning Sept. 1, wholesalers in Honolulu may not charge more than $2.16 a gallon for regular unleaded, or about $2.74 a gallon when taxes are included. The commission set the caps, which will change from week to week, at different levels for other islands.

[craigolemiss]

2. can we have them call North America an Island?

so they can cap it here too?

[Richard Steele]

3. This won't last long. B*shCabalInc.™ won't stand for it.

Of course, stopping the Hawaiian cap will be
another black eye for this misadministration.

I hope they do it; it'll put his ratings in the 20s!