Tracking Gas Prices
Today in the Honolulu Star-Bulletin House Majority Leader Marcus Oshiro (D, Wahiawa-Poamoho)was quoted as saying:
Prior to the cap, when prices on the mainland went up, Hawaii prices went up, but when mainland prices came back down, Hawaii prices stayed the same. Under the fair gas price law, Hawaii consumers are protected from that kind of questionable pricing of the past.
The following link goes to a chart that demonstrates that this statement is not true. For the period from April, 2004 to April, 2005 the average prices in Honolulu not only mirrored those on the mainland but were less volatile. The parallel lines are the averages of each, and they are nearly identical.
The wholesale Gas Price Cap has imposed this same volatility on Hawaii consumers, which has cost them money, not saved them money. When will politicians learn that they can’t pass laws that manage the free-market better than it can manage itself. As noted in an earlier blog today, shortages and other problems are already starting to occur. And this is just the beginning.
Link to the chart here. (Thanks to Brian Barbata.)
(dn)
October 20th, 2005 at 10:10 pm
Thank you so much for this post. When are these law makers are going to learn they do not have clue and should just step aside and let the free market work as it is suppose to. You are the best please keep up the fight and great posts