The Hawai'i Public Utilities Commission announced yesterday that the maximum wholesale price for gasoline on O'ahu will rise 9 cents a gallon Monday to $2.66, reflecting recent increases in Mainland prices.

That means pump prices are likely to average around $3.50 a gallon for regular on O'ahu, after taxes and an estimated 20-cent dealer markup are added. The caps, which took effect Sept. 1, set maximum wholesale prices in Hawai'i based on wholesale prices in Los Angeles, the Gulf Coast and New York.

During the past month prices have hovered at or near the caps, even though the law does not require oil companies to charge the maximum price.

The gas cap limits only wholesale prices, so gasoline stations are free to set retail prices wherever they want.

Next week's rise comes on top of a 25 cent-per-gallon jump in this week's price cap.