HONOLULU -- Hawaii's soaring gas prices are expected to decrease significantly next week. The Public Utilities Commission Wednesday dropped the state's wholesale gas cap about 50 cents for next week.

The PUC said Hawaii's two refineries will start charging a baseline price on wholesale gas that is no more than $2.09 a gallon.

When the gas cap lowers next week, many retailers KITV spoke with said they will lower their prices accordingly, even though they might still be holding some of the more expensive inventory they had to buy at this week's higher prices. Retailers said they will lower prices to keep competitive.

At Waialae and Nimitz Chevrons, the price of a gallon of regular unleaded gas this week was $3.69. Owner Barnaby Robinson said he will cut his price 50 cents to $3.19 a gallon next week.

"It is a relief from that huge jump we had last week. Nobody knows how long it will last, but for now we are going to enjoy it,"

Some drivers say 50 cents a gallon reduction is still not much of a break.

"(There's) no difference because I think, 'Only $3.19?' That's still high. It's just outrageous the price," Pearl City resident David Tellyer said.

Ewa Beach resident Leonard Tampon said he still plans to drive less.

"I'll do the same things until it really goes down a little more," Tampon said.

Other drivers are delighted.

"It's good that it's coming down 50 cents. I hope it can go lower than that," Aiea resident Ruby Shimooka said.

Hawaii's gas cap is based on averages from spot prices in New York, Los Angeles and the Gulf Coast. The prices are going down now because mainland prices are decreasing.

"Consumers should go out there and look at the guys who are pricing and shop price signs not brands anymore," said Frank Young, of Citizens Against Price Gouging.

Retailers said that's exactly what is happening. Drivers are going where the gas is cheaper.