Hawaii is ending it’s eight-month experiment with price caps on gasoline.

“In a lot of people’s minds, they thought the gas cap wasn’t working,” said Sen. Paul Whalen, a strong supporter of the law. “It was hard to generate lots of support for it because … we’re paying more than we ever were before.”

[...]

One study by an economics professor showed the gas cap cost consumers 5 cents more per gallon.

An analysis by the state Department of Business, Economic Development and Tourism estimated that island motorists paid $54.9 million more than they otherwise would have in the first five months under the cap.

Imagine that.

This entry was posted on Monday, May 8th, 2006 at 10:53 am by Radley Balko and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.