Guam – Senator Dennis Rodriguez says his intent in calling on the island’s fuel suppliers to meet with him is to gather facts and learn how the pricing system works with the aim of determining what legislative action, if any, is necessary to regulate fuel prices on Guam.
A round-table hearing was scheduled for today [Tuesday] but it was cancelled. Instead, at their request, he will meet with at least 2 of the island’s fuel suppliers privately.
Last week South Pacific Petroleum, which owns and operates the 76 Stations, declined to attend today’s round-table saying that pricing information must remain confidential. And Mobil and Shell, wrote to Rodriguez requesting a private meeting, because they too are “prohibited from publicly discussing pricing methodologies.”
Senator Rodriguez agreed, but he told PNC News that he will provide a report to the public on the outcome of the meetings, although he has assured the fuel companies that he will keep their pricing information confidential..
The meetings have not been scheduled yet, but Rodriguez expects those meetings will take place later this week.
Rodriguez originally called the round-table following the steep hike in gasoline prices which rose to $4.73 cents a gallon at the start of this month before dropping by a dime last week.
But despite last week’s 10-cent drop in prices here, Rodriguez points out that gas prices in the Philippines have dropped 39- U.S. cents in the past month, and the Philippines, like Guam, gets its fuel from Singapore. Why, he wonders, haven’t fuel prices dropped just as much here.