The price of unleaded gasoline has dropped another 20 cents.
Mobil, as usual, was first out of the gate today slashing its price for a gallon of unleaded regular to $3.30 from $3.50 yesterday.
Circle 76 quickly followed suit, lowering their price by the same amount. Shell stations also dropped their price to $3.30 Wednesday night.
This is the second 20-cent price reduction in less than a month brought on by the coronavirus pandemic which has forced the cancellation of thousands of flights and kept millions at home and off the roads.
Guam gets its gas from Singapore where the regional benchmark is Tapis crude which has fallen to $26.72 a barrel.
Stateside, the national average price for a gallon of regular has fallen below $2, according to the American Automobile Association, the lowest level in 4 years.
Triple A credits the decline to the “chilling effects” of the pandemic on the global economy and the crude oil price war between Saudi Arabia and Russia.
This is the eighth change in the price of gasoline on Guam in 2020 and the seventh decrease in price this year.
The price per gallon on Guam at the start of the year was $4.15.
2020 Price Changes:
*January 1: $4.15
- January 8: 10-cent increase to $4.25
- January 23: 10-cent decrease to $4.15
- February 3: 10-cent decrease to $4.05
- March 3: 10-cent decrease to $3.95
- March 10: 10-cent decrease to $3.85
- March 13: 15-cent decrease to $3.70
- March 25: 20-cent decrease to $3.50
- April 1: 20 cent decrease to $3.30