This week's jump in gasoline prices is likely to be followed by another significant rise next week.

Hawai'i's wholesale gasoline price cap could jump about 11 cents a gallon next week, according to Advertiser calculations. That would come on top of a 14-cent-a-gallon rise in the price cap this week.

The cap is set weekly and based on wholesale prices during a five-day period in three Mainland markets. After the first four days of market data, the cap for O'ahu was poised to rise Monday to nearly $2.43 a gallon for regular, excluding taxes and dealer markup.

That's up from this week's cap of almost $2.32. Pump prices at several stations around O'ahu broke above $3 for a gallon of regular this week for the first time since November.

Gasoline futures closed above $2 a gallon yesterday for the first time since October on speculation that delays in refinery maintenance will lower U.S. motor fuel stockpiles for a sixth straight week, according to Bloomberg News.

Hawai'i sets a ceiling on wholesale prices but does not regulate retail prices. State lawmakers are considering amending or repealing the controversial law.

Reach Sean Hao at shao@honoluluadvertiser.com.