-->California Watches Hawaii's Effort to Cap Gasoline Prices

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With chronically high pump prices straining its laid-back ethos, Hawaii embarks this week on a radical experiment to cap gasoline prices, a move being keenly watched nationwide by legislators and consumer groups eager to rein in record fuel costs.

Interest will be especially high in California, a unique market that some experts liken to Hawaii's because of the high prices charged by gas stations and big profits reaped by a few in-state refiners.

This week, state Sen. Joe Dunn (D-Santa Ana) will reintroduce legislation that would give the California Public Utilities Commission the power to regulate gasoline prices.

"Hawaii is taking the absolutely correct approach to the gasoline industry," said Dunn, a strident critic of energy companies. "The more states that follow Hawaii's lead, the sooner we'll be able to force this industry to get back to normal market behavior that benefits the consumer but also allows them a reasonable profit."
http://www.latimes.com/business/la-fi-hawaiigas30aug30,0,396684.story?coll=la-home-headlines




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