On May 5, 2006, Governor Lingle signed a bill that suspends the State's Gas Cap Law. ACT 78 also establishes the petroleum industry monitoring, analysis, and reporting program to create greater transparency through industry reporting. Under the law the Governor has the authority to reinstate the caps if it is determined that it will be beneficial to consumers.
You can read a copy of Act 78 by clicking on the link below.
The Hawaii Public Utilities Commission issued Decision and Order No. 21952 on August 1, 2005, which sets forth the whole sale gas caps formula and the policies and procedures that the Commission will follow in implementing the Gas Caps Law.