House Committee Votes To Suspend Gas Cap

HONOLULU (KHNL)  Late Tuesday a House committee voted to  suspend the gas cap in order to implement new measures designed to protect consumers at  the pump.The bill must still pass the entire house before crossing over to the Senate for a vote. If it is passed the amended version of the gas cap bill would suspend the cap for 18 months beginning  July 1st.

Lawmakers are hoping to gain better insight into oil companies that have posted record profits since the gas cap took effect. This comes after a briefing  last week when the Public Utilities Commission said.. it has been unable to implement the gas cap law in a manner that best serves the consumer.

Hawaii still has the highest gas prices in the country but those prices will drop in a big way next Monday. According to figures released Monday night by lawmakers gas prices should fall sixteen cents continuing a downward trend. Prices dropped ten cents this week and three cents the week before.

Gas prices next week should hover around $2.54 per gallon.