According to the Honolulu Advertiser, state lawmakers are trying to pass bills that would help lower the cost of gasoline in Hawaii. Since January 1 of 2007, our gas prices went up 11 cents, driving us to the number one spot with the most expensive gas tax in the nation.

There are eight different bills that were introduced to the legislature, and if lawmakers pass at least one of the eight bills, the cost of gas will lower. A large portion of the bills targeted the general excise tax on gasoline. Since January 1, 2007, the combination of the increase in the general excise tax as well as the expiration on state tax breaks for ethanol blended fuels drove our gas prices up. If we indeed eliminated the increase in general excise tax on gasoline, the result will cost the state $34 million annually.

I think the wiser decision is to reinstate the state tax break for ethanol blended fules. According to the Honolulu Advertiser, reinstating the tax break will drop our gas prices 11.3 cents, which will drop Hawaii to the number 10 spot of states with the highest gas taxes. Although 11 cents doesn’t sound like a whole lot, those who drive a lot will feel the difference in their pocket when paying at the pump.

A drop in gas prices will definitely help out…especially since everything else seems to cost so much more here.

• Gas Rises 11 Cents Starting January 1, 2007
• Hawaii’s Jobless Rate at 2%
• Home Prices Slowy Decrease in Oahu

               
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