§486H-16  Adjustments.  (a)  A
manufacturer, wholesaler, or jobber may petition the commission to adjust the
maximum pre-tax wholesale price of regular unleaded, mid-grade, or premium
gasoline in the event of a change in the value of the baseline price for
regular unleaded gasoline, the marketing margin factor, the mid-grade
adjustment factor, the premium adjustment factor, a zone price adjustment on a
zone by zone basis, or an allocation of a zone price adjustment on a zone by
zone basis.  The petitioner shall bear the burden of proof to establish by
clear and convincing evidence the need for and the amount of any adjustment. 
The adjustments shall be determined as follows:



(1)  The value of the baseline price shall be equal to
the average of the three lowest of the four weekly averages of the spot daily
price for conventional regular unleaded gasoline or its equivalent standard:



(A)  The weekly average of the spot daily price
for conventional regular unleaded gasoline for Los Angeles;



(B)  The weekly average of the spot daily price
for conventional regular unleaded gasoline for New York Harbor;



(C)  The weekly average of the spot daily price
for conventional regular unleaded gasoline for the United States Gulf Coast;
and



(D)  The weekly average of the spot daily price
for conventional regular unleaded gasoline for Singapore,



as reported and published by the Oil Price
Information Service for the five business days of the preceding week; provided
that if the preceding week contains a holiday or holidays, the average of the
remaining business days of the preceding week shall be used; and provided
further that the commission, in its discretion, may determine a more
appropriate baseline or a more appropriate price information reporting service
or use multiple price information reporting services;



(2)  The value of the marketing margin factor in
effect at the time the petition is filed shall be adjusted by adding to the
value the difference between:



(A)  The average of the difference over the
prior twelve-month period between:



(i)  The dealer tank wagon price for sales for
resale for "regular" gasoline; and



(ii)  The bulk price for sales for resale for
"regular" gasoline,



for Petroleum Administration for Defense
(PAD) District V, as reported and published by the Energy Information
Administration or its successor in Table 31 - "Motor Gasoline Prices by
Grade, Sales Type, PAD District, and State" or other source containing the
same information; less



(B)  The average of the difference over the
period from 1994 until the most current year between:



(i)  The dealer tank wagon price for sales for
resale for "regular" gasoline; and



(ii)  The bulk price for sales for resale for
"regular" gasoline,



for Petroleum Administration for Defense
(PAD) District V, as reported and published by the Energy Information
Administration or its successor in Table 31 - "Motor Gasoline Prices by
Grade, Sales Type, PAD District, and State" or other source containing the
same information;



(3)  The value of the mid-grade and premium adjustment
factors in effect at the time the petition is filed shall be adjusted by any
material change in the mid-grade and premium adjustment factor as published by
an appropriate price information reporting service; and



(4)  The value of any zone price adjustment on a zone
by zone basis or zone price adjustment allocation, pursuant to section
486H-13(i), on a zone by zone basis, in effect at the time the petition is
filed, shall be adjusted based upon material changes in the operating costs for
a zone, such as terminaling, storage, or distribution costs, and other
empirical data the commission deems appropriate.



(b)  If the commission adjusts the maximum
pre-tax wholesale gasoline prices, the commission shall publish its findings
and the adjusted prices by means that shall include the internet website for
the State of Hawaii.



(c)  Regardless of whether a petition has been
filed and notwithstanding a determination of the adjustments made pursuant to
subsection (a), the commission, in its discretion, may make such other and
further adjustments deemed necessary and appropriate to establish maximum
pre-tax wholesale gasoline prices that reflect and correlate with competitive
market conditions. [L 2002, c 77, pt of §2(1); am L 2004, c 242, §6; am L 2006,
c 78, §18]