Friday, April 30, 2010

Hawaii Hikes Oil Tax

Gas prices, power bills and shipping costs will rise after the Hawaii Legislature voted to override a veto of a $1-per-barrel tax increase on oil products.

Hawaii already has the most expensive electricity rates and gas prices in the nation, and they're expected to become even more costly when this tax increase takes effect in July. Island drivers paid $3.58 per gallon of regular unleaded Thursday, according to AAA's Fuel Gauge Report.The petroleum tax is one of 11 measures that will become law following veto overrides by lawmakers Thursday. Others include requiring contractors to hire 80 percent Hawaii residents for public projects, taxing estates worth more than $3.5 million and preventing the closure of welfare offices. More >>>

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