Les Jones

Economics > Hawaii Abandons Failed Gas Price Controls

Hawaii's attempt to cap wholesale gas prices failed, and led to higher prices as wholesales had no incentive to supply the islands. Hawaii has now removed the cap.

In other areas, where sellers were able to set their own prices, the prices remained stable. It was almost as if some kind of unseen appendage was at work, like some kind of ghostly limb.

WizBang has more, including this: "According to the state's Department of Business, Economic Development and Tourism, Hawaii's motorists spent $54 million more on gas because of the price controls."